Readymade garment exports from Pakistan in Q1 rose 15.97 per cent as compared to exports during the corresponding period last year. Exports of knitwear increased by 9.35 per cent; towels exports increased 0.9 per cent. Raw cotton exports from the country during the first quarter of the current financial year grew by 69.70 per cent.
Exports of cotton yarn were up 4.56 per cent. However, exports of cotton cloth decreased by 3.44 per cent. About 91,147 metric tons of bed wear were exported the in first quarter as compared to exports of 89,559 metric tons during the same period last year. In the first quarter of the current financial year, exports of yarn other then cotton yarn grew by 7.67 per cent.
Textile group exports from the country during the first quarter of current financial year witnessed a 7.91 per cent increase as compared to exports of the corresponding period last year.
The textile industry is the backbone of Pakistan's economy. It contributes more than 61 per cent share in the country's exports and is the largest foreign exchange earner and employment generator. The textile sector has been a major beneficiary of GSP Plus. Pakistan’s exports of textiles have increased by 55 per cent in value terms in 2016 over 2013.