Textile exports grow by over 7 pc

ISLAMABAD, (Financial Updates): Despite facing energy crisis, country’s textile exports managed to grow by 7.01 percent during the recently passed fiscal year 2009-10 as against the exports of last year.Overall textile exports during July-June (2009-10) stood at US$10.244 billion against the exports of US$9.572 billion recorded during July-June (2008-09), according to data released by Federal Bureau of Statistics (FBS).

The raw cotton sector was one of the major contributors, exports of which grew by over 124 percent, the data revealed adding that raw cotton exports during the period were recorded at $195.638 million against the exports of $87.832 million recorded during last year.
The other sectors that witnessed positive growth included cotton yarn, exports of which increased from $1.114 billion last year to $1.427 billion this year, showing a positive growth of 27.13 percent.

Similarly exports of yarn (other than cotton yarn) increased by over 99 percent by going up from $22.970 million in 2008-09 to $45.713 million in 2009-10, the FBS figures revealed.

The other sectors showing positive growth in exports included knitwear (1.16 percent), towels (5.17 percent), tents, canvas and tarpaulin (9.38 percent), readymade garments (4.33 percent), art, silk and synthetic textile (60.61 percent, madeup articles (12.54 percent) and other textile materials (34.04 percent.
The textile sectors showing negative growth included cotton carded or combed, exports of which fell by 24 percent. Exports of cotton cloth also decreased by 7 percent while there has been nominal decrease of 0.64 percent in the exports of bed wear.

During June 2010, the textile exports witnessed growth of 5.35 percent and 9.81 percent over May 2010 and June 2009 respectively, the data revealed.
Textile exports during June 2010 were recorded at $921.858 million against the exports of $875.054 million recorded in May 2010 and $839.523 million in June last year.

The government in August last year had unveiled the first-ever five-year National Textile Policy, setting the export target of $25 billion and envisaging comprehensive measures to boost production besides incorporating strategies to address the challenges confronting the sector on sustainable basis.