Textile exports decline 10.38pc

TAHIR AMIN

ISLAMABAD: Textile exports recorded at 12.356 billion dollars in 2011-12 against 13.788 billion dollars during the same period of the corresponding year, registering a decline of 1.432 billion dollars (10.38 percent), sources revealed.

Officials of the Textile Ministry revealed that textile made-up worth 12.357 billion dollars were exported during July 2011-June 12, as compared to 13.788 billion dollars during the same period of the previous year.

In Textiles Policy 2009-14, a target of 25 billion dollars textile exports was envisaged by 2014. To achieve the target, the Ministry had proposed various short to long-term initiatives, while the Cabinet approved these initiatives along with proposed funding plan.

The export performance in first year of Textile Policy was hampered by international recession and increase in cotton prices, while the domestic cotton value chain also faced shortage of cotton. However, the textiles industry achieved seven percent increase in exports and exports were increased from 9.6 billion dollars to 10.4 billion dollars. In second year of Textile Policy, the exports increased by 34 percent, from 10.4 billion dollars to 13.9 billion dollars. Reasons were the increase in quantities of value-added products and also high cotton prices. In third year of Textile Policy, the exports decreased by nine percent due to lower cotton prices and energy crisis.

The textiles circles when contacted, raised concern over energy issue, saying that energy including gas and electricity is not only short, but their prices have also been increased thus making them uncompetitive in international market.

The product-wise details showed that raw cotton exports increased by 26.65 percent during 2011-12, cotton yarn exports decreased by 18.48 percent, cotton cloth exports went down by 6.42 percent, cotton carded exports declined by 64.73 percent, yarn exports went down by 12.83 percent, knitwear export declined by 14.37 percent, bed-wear 16.3 percent, towels 10.25 percent, readymade garments exports decreased by 7.84 percent, art silk and synthetic textile exports decreased by 10.81 percent and made up articles export reduced by 6.43 percent as compared to the same period of the preceding year.

According to the industry sources, local garment exports came down by 140 million dollars in 2011-2012, and its share in the country’s total exports has also drastically reduced. Textile and clothing exports could have touched the figure of 22 billion dollars by end June 2012 but due to energy shortages, the exports could not fetch even the 2010-11 year’s export, they added.