Energy crisis prompts Pakistan’s textile exports to drop by %
In the first 10 months of the current fiscal year, Pakistan’s textile sector was severely hit by the energy crisis. The exports of the textile sector shrank by about one-tenth, and its share in the country’s total exports was sharply reduced. Pakistan Bureau of Statistics said on Monday.
Pakistan is the world’s fourth largest cotton producer and the world’s third largest cotton consumer. Cotton textiles contribute 60% to the country’s total exports, account for 46% of the total exports of the manufacturing sector, and provide employment opportunities for approximately 38% of the labor force in the manufacturing sector. But in the first 10 months of the current fiscal year, the textile sector’s share in total exports dropped to about 52.37%.
According to official data, in the July-April period of the 2011-12 fiscal year, textile exports shrank by 9.6%, with exports reaching US$1.076 billion, and total exports reaching US$10.143 billion. Total exports in the same period last year were 11.219 billion. Dollar. In the secondary sector, only raw cotton exports increased by 32.3%, with export value reaching US$433.05 million. The exports of other products fell by 5-73%. In the textile sector, in July-April of the fiscal year 2011-12, duty-free exports fell by 22.78% to $1.451 billion, cotton cloth exports fell by 5.35% to $1.969 billion, and bed sheet exports fell by 1.38%. %, dropped to 1.45 billion US dollars, the export of knitwear dropped by 13.13% to 1.62 billion US dollars, the export of ready-made clothing fell by 5% to 1.326 billion US dollars, and the export of towels dropped by 8.4% to 556.5 million US dollars. Dollar.
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