Textile export crosses $7 billion mark

Country's textile export witnessed a straight jump of 6 percent during the first eight months of the current fiscal year 2006-07, as it crossed the $7 billion mark, official statistics revealed on Tuesday.
According to statistics, Pakistan's textile exports have been increased by 6 percent during the first eight months (July-February) of the current fiscal year, as compared to the same period of the last fiscal year.
Textile export stood at $7 billion during July-February of the current fiscal year as compared to $6.609 billion exports during the same period of the last fiscal year, depicting an increase of $397 million. Month-on-month basis, country textile exports have risen by 6.23 percent during the February 2007, against the same period of last fiscal year.
Statistics shows that during the month of February 2007, country's textile exports stood at $788.561 million as compared to $742.048 million during the same period of the last fiscal year 2006, indicating an increase of $46.513 million or 6.23 percent during February 2007.
In February 2007, textile export also showed an increase of $24.392 million or 3.19 percent against the January 2007 during which country's textile exports were recorded $764.169 million.
Four textile items including raw cotton, cotton cloth, cotton carded and bed wear exports have decline during July-February 2007, while other products' exports including readymade garments, yarn, knitwear, art and silk shows raised. During July-February of the current fiscal year, knitwear moved up by 16 percent, yarn by 140.46 percent, and towels by 2 percent.
Similarly, exports of tents increased by 167 percent, readymade garments by 8 percent, art and silk by 164 percent, yarn other than cotton yarn by 153 percent, made-up articles by 3 percent, whereas exports of other textile sectors registered 26 percent growth. Raw cotton exports have declined by 18 percents, cotton cloth by 9 percent, cotton-carded exports showed a decline of 56 percent, bed wear by 5 percent.
"Despite 6 percent growth in textile export during the first eight months of the current fiscal year, we will not achieve textile export target of $10.15 billion," said Zubair Motowala, a leading exporter. He said that major increase has recorded in the exports of textile raw materials, not in the finished products.
He said that post quota regime and international competition have put a negative impact on the country's textile export, resulted a decrease of 1.12 percent during the first five months July-November of the current fiscal year 2007.