Pakistan's garment export to European Union and Canada registered a decline while to the US market, the garment export posted a slight increase, an IMF report revealed on Thursday. The garment export to EU market declined from 1.7 percent in 2003 to 1.5 percent in 2007.
The share of Bangladesh in garment export to the EU has increased to 7.1 percent in 2007 as compared to 6.6 percent of 2003. This is 5.4 percent higher than that of Pakistan. The report further revealed that export of garments from India have also increased by 1.2 percent in 2007 as compared to 2003 while these were about 4.7 percent more than that of Pakistan.
Similarly, during 2003, the garment exports to Canadian market were around 1.5 percent that decreased to 1.0 percent in 2007 which shows a decline of 0.5 percent. The garment export of Bangladesh to the Canadian market has increased from 5.3 percent in 2003 to 6.4 percent in 2007 showing an increase of 1.1 percent while it was 5.4 percent more than that of Pakistan.
India exports show the same trend vis-à-vis Pakistan as its garments export to the Canadian market decreased from 7.3 percent in 2003 to 4.7 percent in 2007. According to the IMF report, the garment export of Pakistan to US market increased to 2.0 percent in 2007 from 1.6 percent in 2003 showing a decrease of 0.4 percent. On the other hand, the garment exports of Bangladesh and India to the US markets are showing an upward trend in 2007 being 4.0 percent and 4.3 percent, respectively.