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Pakistan textile exports decline by 2 per cent

Textile exports in Pakistan in June 2018 declined 2 per cent despite government’s efforts to boost shipments in an attempt to reduce trade deficit and rein in the runaway current account deficit. This fall in textile exports, which accounts for around 60 per cent of Pakistan’s total overseas sales, is attributed to rise in cotton prices this year and heavy sales in June last year.

Textile exports were recorded at $1.19 billion in June 2018, down 2 per cent on a year-on-year basis compared to $1.22 billion worth of shipments in the same month of 2017. This decline was primarily due to a significantly higher cotton price that went up in the past one year from around Rs 6,500 per maund (37.324kg) to Rs 9,500.

Cotton price have increased 22 per cent in the world market, but in Pakistan, it has gone up nearly 40 per cent due to rupee depreciation during the last year.

 

 
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