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    Diversion of orders from China to benefit Pakistan’s textile exports

    Pakistan’s textile and garment exports are expected to increase in the coming months due to the diversion of orders from China and other neighboring Asian countries. The country’s focus on more value added and new textile policies will support the organic growth of exports. The depreciation of the PKR has also boosted textile exports.

    North American and European countries have ordered textiles and clothing in China, Bangladesh and other Southeast Asian countries. As a result, textile factories and processing departments in these countries are at full capacity. As a result, new orders are being diverted to Pakistani suppliers, and the proportion is consistently rising.

    The Government of Pakistan is also helping exporters by minimizing tariffs and taxes on the import of most raw materials in order to reduce the input cost of exportable products. The Ministry of Commerce and Industry has allocated 6 billion rupees under the mandatory disadvantage of local taxes and surcharge (DLTL) schemes. Of the total funds, Rs 5.60 billion is allocated to the textile sector, which is a major foreign exchange earner. This has solved some of the liquidity issues in the country’s export sector.

    Pakistan’s textile and garment exports are expected to increase in the coming months due to the diversion of orders from China and other neighboring Asian countries. The country’s focus on more value added and new textile policies will support the organic growth of exports. The depreciation of the PKR has also boosted textile exports.

    In addition to the above, the country’s Large Manufacturing (LSM) sector grew at a rate of more than 10% in the previous fiscal year due to the country’s effective industrial growth policy. The Sino-US trade struggle has also played a vital role in boosting Pakistan’s textile and garment exports.

    The monthly average of apparel exports from Pakistan was $ 565.6 million in the first half of 2021 and is expected to increase 13.44% to $ 641.6 million in the first half of 2021. The United States, United Kingdom, Germany, Spain and France were Pakistan’s largest importers of apparel in the first half of the year, accounting for approximately 68.27% of the country’s total apparel exports. Fiber2Fashion market analysis tool TexPro..

    The monthly average of Pakistani textile exports was $ 278.77 million in the first half of 2021. It is expected to decline 6.52% in the first half of 2021 to an average of $ 260.58 million per month. Bangladesh, the United States, Turkey, Italy and Sri Lanka were the top five importers of Pakistani textiles in the first half of 2021 and accounted for approximately 46.64% of the country’s total textile exports.

    France, the Philippines, the United States, the United Kingdom and Taiwan were the top five destinations for Pakistani textiles in the first half of 2021 and accounted for approximately 56.40% of the country’s total textile exports. China, Bangladesh, Portugal, the United States and Turkey were the top five markets for Pakistani textiles in the first half of 2021 and accounted for approximately 85.63% of the country’s total textile exports.

    Pakistan’s average monthly exports of household textiles are expected to increase from $ 393.22 million in the first half of 2021 to $ 448.23 million in the first half of 2021. The United States, United Kingdom, Germany, the Netherlands and France were the top five importers of Pakistan’s household textiles in the first half of 2021. And it accounted for about 70.09% of the country’s total household textile exports.

    Pakistan’s total textile and garment exports were $ 123.75 million in the first half of 2021. This is expected to increase by 9.12% in the first half of 2021 to reach $ 135.4 million.

    Fiber2Fashion News Desk (KD)

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    Diversion of orders from China to benefit Pakistan’s textile exports

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