Friday, 21 July 2017

Value-Added Textile Exports Grow

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Pakistan's National Statistical Office (PBS) said Thursday that textile and apparel exports grew 0.04 percent in 2016-17 to $ 12.45 billion.

The export was $ 1.21 billion in June, up 24 percent from a year ago.

Overseas sales of textile groups, which account for 60% of China's total exports, have remained stagnant at $ 12bn over the last few years.

The data showed that the ready-to-wear apparel sector was the only bright spot. Exports were $ 231 million in 2016-17, an increase of 6% over the previous year. Clothing exports increased by 6.13% in terms of quantity. The exports grew more than 20% in June.

Another value-added product knitwear exports posted a negative growth of $ 2.36 billion from $ 0.07 percent. However, exports of knitwear increased 0.66% in volume terms.

Exports of bed wear in the last financial year increased by 5.6pc and 7.37pc. Towel exports fell 2.04pc year-on-year and 0.87pc in quantity in 2016-17.

The value added sector grew due to government support. Another reason for increased exports of high value-added textiles was the preferential approach to the EU in 28 countries under the GSP + scheme.

Exports of intermediate goods such as cotton yarn fell 1.69% but increased by 7.49% QoQ. One of the reasons is that China's demand for yarns and fabrics is sluggish.

Exports of cotton fabrics fell 4.23%, but in terms of quantity, they increased by 7.49%. Exports of raw cotton fell 49pc to 44pc in 2016-17.

Exports of low value-added products such as cotton cards increased the value of 62pc and increased the quantity of 51pc. Exports of tents and canvases rose 57% in value, while products excluding towels and beds increased 2.62%.

However, exports of yarn other than cotton yarn fell 25pc in value and 30p in quantity.

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