Pakistan’s textile exports increased by 26%

pakistan-textilePakistan’s textile exports increased by 26% to $1.503 billion in the first quarter of FY22. Textile exports increased by 45 percent in August to $1.5 billion, compared to $1 billion in August 2020. According to a study by Global Village Space, Pakistan’s textile industry has been successfully employing a competitive electricity price of 9 cents per kWh and gas at $6.5 per mmBtu for the past two years, and this package has now been extended to cover the entire fiscal year of FY22. North America and European nations are Pakistan’s main markets for textiles. The easing of COVID-19 caused lockdowns in these nations is helping to an increase in textile exports from Pakistan.

According to the Pakistan Bureau of Statistics, ready-made garment exports increased by 22.57 percent in value and 21.63 percent in quantity in the first quarter of this fiscal year. Knitwear exports climbed by 34.12% in value and 14.22% in volume, while bed wear exports increased by 24.5 percent in value and nearly 23% in quantity. Exports of towels increased by 20.67 percent in value and 14.59 percent in quantity, while exports of cotton fabric increased by 24.74 percent in value but decreased by 76.51 percent in number.