Textile exports surge by 26 percent in 7 months

ISLAMABAD: Despite challenges of energy shortage, the textile sector of the country has performed well during the first seven months of the current fiscal year as its exports surged by 25.88 percent.

 Textile exports during July-January (2010-11) were recorded at over US$7.44 billion against the exports of 5.917 billion during July-January (2009-10), according to data released by the Federal Bureau of Statistics here on Saturday.

 The sectors that contributed to the positive growth in textile exports included cotton yarn, cotton cloth and raw cotton, exports of which increased by 32 percent, 32.02 percent and 5.13 percent respectively.

 Other sectors that witnessed upward trend in exports included cotton (carded or combed), exports of which increased by 59.96 percent.

  Similarly the exports of yarn other than cotton yarn increased by 45.12 percent, knitwear by 25.15, bed wear by 15.81 percent, towels by 7.06 percent, readymade garments by 33.02 percent, art, silk and synthetic textile by 59.43 percent, madeup articles by 18.78 percent while other textile materials witnessed 36.61 percent increase during the period.

 The only textile sector that witnessed negative growth was tents, canvas and tarpaulin, exports of which fell by 40.79 percent, the FBS data revealed.

 During the month of January 2011, textile exports increased by 28.42 percent as compared to the same moth of the last fiscal year.

 Similarly textile exports in January witnessed slight increase of 0.77 percent as compared to the exports of December 2010.

 Textile exports in January 2011 were recorded at US$1.183 billion as compared to the exports of US$921.923 million in January 2010 and US$1.174 billion in December 2010, the date revealed.

 Year 2011 has been declared the year of exports and the Ministry of Commerce and Trade Development Authority of Pakistan (TDAP) have devised a comprehensive strategy to boost country's exports.

 The food group exports during the first seven months of the year increased by 12.95 percent exports of petroleum and coal group increased by 26.38 percent while the exports of other manufacture group went up by 7 percent.