13 percent increase recorded in Pakistan’s textile exports in last one year.
Pakistan’s Textile exports have dramatically increased in the last two years following the government’s policies and the efforts made by the Special Investment Facilitation Council (SIFC), reported The Asian Mirror on Saturday.
According to the Pakistan Bureau of Statistics (PBS), in August 2024, textile exports, after an increase by 13 percent, jumped to $1.64 billion from $1.46 billion recorded in the same month in the preceding year.
Moreover, political chaos in Bangladesh and declining demand for the Chinese products also led to a boost in exports.
Also read: Why is Pakistan’s textile industry going to dogs?
Shagufta Irshad, an analyst at JS Global Research, while commenting on an increase in exports, has said that the volatile situation in Bangladesh as well as sanctions on China led the importers of garments to look to India, Vietnam and Pakistan as alternate markets.
“Due to this, apart from a 15 per cent increase in the exports of knitwear and bedwear recorded in August 2024, 28 per cent increase in the exports of readymade garments from Pakistan was witnessed,” she added.
The country’s textile company Interloop Limited is especially expecting the exports of garments to go further up, which will not only enhance the company’s margin but also will also have a good impact on the country’s economy.
After a boost in the Textile exports, Pakistan hopes to increase other exports by further improving the quality of its products.
