Textile exports up 23.54pc in Nov
ISLAMABAD, Dec 20: The export of textile and clothing continued with its rising trend in November for the third consecutive month due to a slight surge in demand from key markets of Europe and United States, suggested data of Pakistan Bureau of Statistics released on Thursday.
It posted a hefty growth of 23.54 per cent in November from a year ago. The growth in export was 10.54 per cent in October, and 12.91 per cent in September.
The growth can be attributed to substantial increase in export proceeds of ready-made garments, towels, and other low value products, such as cotton yarn and cotton cloth, etc but export of raw cotton witnessed a decline in November over the previous year.
The overall export of textile and clothing reached to $5.4 billion in July-Nov period of the current fiscal year as against $5 billion over the same months last year, showing an increase of 7.81 percent.
This helped the country’s total export to grow by 7.85 per cent to $10.081 billion during the first five months of 2012-13 as against $9.347 billion over the corresponding period last year.
A sector-wise analysis showed that export of ready-made garments went up by 17.80 pc, knitwear 14.60pc and towels 52.37 pc in November this year over last year.
Trade experts linked growth in export of value-added products with a spill over effect from China, Taiwan’s labour issue and the announcement of waiver on 75 products from EU from Nov 15 encouraged European buyers to re-develop contacts in Pakistan.
Major European buyers are eying to yield benefits in case EU grants Pakistan GSP plus status in 2014. American buyers are also re-establishing contacts with Pakistan’s textile and clothing exporters after disruption in supply from Egypt.
Export of low value-added products such as cotton yarn was up by 41.32pc, cotton cloth 38.07pc, yarn other than cotton yarn 143.31pc, made up articles 15.28 pc and other textile material 85.22 pc in November this year over same month last year.
Industry sources said consistent supply of gas in July-Nov period to textile sector produced the desired results. The growth in yarn and fabric exports was mainly because of improved energy supply.
The full capacity utilisation of production caused growth in export of home textile — towels and bed-wear as well. This shows that in case of uninterrupted supply of energy, export of textile products would increase manifold.
Contrary to this, over 36.42 pc increase was also witnessed due to the rupee’s depreciation against the dollar in the past few months.