Views:5 Author:Site Editor Publish Time: 2021-04-28 Origin:Site
Pakistan's Business Recorder reported on April 17, 2021, according to the Statistics Bureau of Pakistan, the export value of Pakistan's textile industry in the first nine months of this fiscal year (from Jul 2020 to Mar 2021) reached 11.355 billion USD, up 9.06% compared with the same period last year. In Mar, the textile export value reached 1.355 billion USD, up 9.85% compared with Feb 2021 and 30.38% compared with Mar 2020.
Pakistan's total export value in the first nine months of this fiscal year amounted to 18.688 billion USD, up 7.14% year-on-year. The top export products are knitted clothing, bedding, cotton fabric, cotton yarn, rice, fish and fish products. In the first nine months of this fiscal year, Pakistan's total imports amounted to 39.519 billion USD, up 13.59% over the same period last year. Main import products are oil and petroleum products, natural gas, palm oil, steel, plastic products, mobile phones, mechanical and electrical equipment, unprocessed cotton, etc. In the first nine months of this fiscal year, Pakistan's trade deficit was 2083 million USD, up 20.08% compared with the same period last year.
Pakistan’s textile industry has continued to grow rapidly since the 1990s, and has become one of the world’s major textile producers and exporters, and it is Pakistan’s pillar industry. Pakistan’s textile industry accounts for 39% of Pakistan’s manufacturing employment, and its output value accounts for 8.5% of its GDP.
Pakistan’s textile exports are dominated by textiles (primary textile finished products such as cotton cloth and cotton yarn and simplified finished products such as bedding and towels), while the proportion of clothing exports is slightly lower. At present, Pakistan's textile exports account for about 1.94% of the total global textile trade and 58% of Pakistan's total exports. Among them, the export volume of cotton yarn and cotton cloth ranks first in the world. At present, the world textile industry and clothing trade is gradually shifting to a high-value-added clothing trade, and Pakistan has not been able to keep up with this situation.