Pakistani textile exports slip
According to Pakistan’s statistics office, textile exports fell 3.44% in the first seven months of the current financial year despite government incentives.
Total textile exports were was $6.03 billion for the July 2007 to January 2008 period compared with $6.24 billion in the same period the previous year. Both textile and clothing exports fell, in volume as well as in value.
However, January textile exports were 11% higher month-on-month, renewing hopes of a revival for the industry, although it appears targets for the year are unlikely to be reached.
Exports of bedwear, knitwear, tents, canvas and tarpaulin registered negative growth of 6.215, 11.2% and 0.62%, respectively, for the July to January period. Meanwhile, exports of raw cotton, cotton yarn, cotton cloth, cotton carded and other yarn declined by 12.79%, 6.02%, 8.26%, 23.2% and 19.89%, respectively. Exports of readymade garments were up 7.2% during the same period.
Recent political turmoil, competition from other Asian coutries and lack of research and development have been cited as contributing factors to the decline.
