Pak Textile Exports Decline By 14.6p

Pak Textile Exports Decline By 14.6p

Pakistan exported textile commodities worth 961 million US Dollar during November as compared to 1.13 billion US Dollar of the corresponding month of the previous year, decline by 14.6 per cent due to both external and internal issues going on in the country. Exports Likely to further tumble in the months to come with the suspension of gas supply to Punjab’s textile mills indefinitely by the government, an official of the All Pakistan Textile Mills Association said.

He said more than 400 of spinning, weaving and processing were being supplied gas just for four hours a day in November, which now has been halted completely in December.

Exports would also suffer as cotton arrival in November 2015 had dropped to just 5.1 million bales against 8.5 million bales of last year in Punjab, a decline of 40 per cent. Pakistan’s exports are continuously declining from last several months. The ministry of commerce attributed the decline in exports to adverse terms of trade triggered by massive reduction in commodity prices and weak global demand.

According to the latest figures of Pakistan Bureau of Statistics (PBS), the country’s textile exports stood at5.2 billion US Dollar during July-November of the ongoing fiscal year as against 5.7 billion US Dollar of the same period of last year, showing a decline of 8.4 per cent.

But export of readymade garments registered a growth of 3.59 per cent during July-November 2015 over a year ago. Similarly, exports of towels recorded growth of 6.1 per cent.