Textile exports surge by 17pc in first month of current fiscal

ISLAMABAD: In a welcoming development, Pakistan’s textile exports surged by 17 percent to $1.49 billion in July, the first month of current fiscal 2021-22, as compared to $1.28 billion in the same month of last fiscal, unfolds the export data of textile products available with The News.

The value added sector that represents 78 percent of the textile export has also registered an unprecedented growth of more than 17 percent cumulatively.

“This is a landmark achievement with 17 percent increase in export of textile products”, said Shahid Sattar, Secretary General and Executive Director of All Pakistan Textile Association (APTMA) when contacted by The News.

He said 10 years back, Pakistan textile sector used to get a benefit of $2.50 by using cotton of one US dollar. Now its capacity has increased to benefit up to $6.50 with the use of cotton valuing one dollar. "The textile sector has substantially increased its capacity to produce the value added and finished products which will further increase by 20 percent by the end of current fiscal 2021-22", he said.

Under the value added products, the export of articles of apparel and clothing accessories, knitted or crocheted has jacked up by 26 percent to $398.384 million in the month of July if compared with the export of $315.194 million of the said items registered in the corresponding period of 2020 in the same period.

The data also says that articles of apparel and clothing accessories, not knitted or crocheted went up by 11 percent to $303.383million, whereas the export of the same items during the period under review in last year 2020 stood at $273.895 million. However, the exports of other value added products such as made-up textile articles, worn clothing and worn textile articles and rags showed growth of 7 percent to $459.155 million in July 2021 if compared with the export of $428.571 million of same items in corresponding period of 2020.

The cotton products have also shown growth in exports by 29 percent to $275.858 million against the exports of $213.614 million in the month of July 2020. The exports of man-made filaments; strip and the like of man-made textile materials has also climbed up by 29 percent and man-made staple fibers went up by 19 percent in the month of July.