ISLAMABAD: Textile export decreased in October because the demand in the world market was declined due to international economic recession.
Talking to APP, an official of Ministry of Textile Industry (MinTex) said on Wednesday that the purchasing power decreased especially in Europe due to Euro-crisis.
"The figures released by Federal Board of Statistics (FBS), which showed the decline of the export in the month of October of current year as compared to same period of last year, were provisional but not final", he added.
He said that the textile exports were declined by 13.51 percent in the month of October as compared to same period of last year but if we calculate the total export for first four months of current fiscal year, the overall figures showed increase in the export by 3.29 per cent when compared to the same period of last year.
He added that the ministry assumed only the quarterly figures which were final not provisional.
The official said that the curtailment of gas and electricity caused some problems for the industry of textile but we could not blame it fully.
The ministry is exploring new markets in the world to increase the exports and are focusing Africa where there was not any quota system for export of Pakistani products.
The value-added products of textile are encouraged to export in the world rather than unfinished goods.
Comments
Comments are closed for this article.