Pakistan misses textile targets
According to official statistics, the majority of Pakistan’s textile firms were unable to meet export targets for the July to November period. Furthermore, textile exports, which normally account for approximately 65% of the country’s total exports, fell to just 61% during the five-month period.
Exports of ready-to-wear items fell $19 million short of the target at $587 million. Knitwear exports totalled $882 compared with the $940 million target. Meanwhile, cotton yarn exports were $579 million rather than $595 million and cotton fabrics were $758 million compared with $880 million.
Total textile exports were more or less static (-0.5%) at $4.49 billion compared with $4.51 billion for the corresponding five months in 2006. Disappointing export figures were attributed to fierce competition in the textile sector and rising prices associated with production, including energy prices. Recent political turmoil and chaos following the murder of Benazir Bhutto has added to exporters’ fears for the coming months.
