Pakistan’s textile exports increased eight per cent in November 2021, reveals a Topline Securities report. The main reason was depreciation of Pakistani rupee. Growth was mainly driven by the low base effect due to Covid-led restrictions and volumetric growth in value-added segments excluding knitwear segment.

The major contributor in the significant recovery of textile exports is the value-added segment that includes knitwear. Exports of value added textiles recorded a growth of seven per cent. Exports of readymade garments increased 11 per cent, bedwear by nine per cent and towel exports by 28 per cent. Exports of the basic textile items during the month were up by nine per cent due to the strong growth of 12 per cent in cotton cloth exports compared to a growth of two per cent in the previous month.

In the first five months of the fiscal year, textile exports were up by 28 per cent led by strong growth in value-added textiles and basic textiles which were up by 28 per cent and 35 per cent respectively. Pakistan’s textile exports are expected to remain strong in the rest of this fiscal year. However, the slowdown in European economies and potential lockdowns due to Omicron can impact Pakistan’s textile export orders, going forward.

By Fashionating World
https://www.fashionatingworld.com/new1-2/pakistan-november-exports-up-eight-per-cent-report