Only that, this is not how it works. While the quantity of cloth produced may have stayed the same - the textile export performance has banked heavily on value addition deeper in the chain. Going back to “how to read LSM numbers” would not hurt for some around. The SBP too, has noticed that the mismatch between production and export volume data has widened further.

It must be remembered that domestic textile output data is skewed towards primary products. The transition from low value-added products such as yarn and cotton cloth, to high value-added products such as apparel, is as clear as daylight.

While Pakistan had its more than fair share of vegetable shortages, fruits and vegetable exports was not a disappointment. While fruit exports increased in quantity, vegetable exports raked in higher unit prices. Combined, horticulture exports have a bigger share than the oft-discussed leather, sports, or surgical exports. Surely, such impressive numbers warrant more attention from those who matter, in the bid to diversify the textile centric exports.

Textile performance should also be viewed with the perspective of global economic slowdown. The shift from high-priced apparel demand to mid-range apparel, in the developed countries, has worked in Pakistan’s favor. Pakistan had the timing right in terms of textile production cost, as energy prices for textile industry were in line with regional prices for most of 2019. Energy input prices have reportedly been increased for export players. With ongoing expansion, the move to counter a subsidy of Rs10-15 billion at best, could backfire big time. The government would do well not to tinker with energy prices for the export sector.