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Textile exports witness recovery on raw cotton and yarn export

Staff Report

KARACHI: Textile export witnessed some recovery after a long time in October when its export increased by 19.42 percent over the same month of last year.

This recovery was also seen in the export of textile goods during the month of October over the preceding month of September with the growth of 11.33 percent, Federal Bureau of Statistics (FBS) reported on Thursday.

This improvement in the textile export also impacted the first four months’ export figures positively with the marginal fall of 4.72 percent in its overall export over the corresponding months of last year.

The recovery in textile export was mainly attributed to major export of raw cotton and cotton yarn during these months that has now days become a major source of concern for the value-added textile component because of high prices of these items in the local market affecting their performance.

Exporters commenting on the textile export growth said that it should not be viewed as a positive development as we are exporting raw material, which can fetch better price if exported after value addition.

The unit price fetched by exporting raw cotton and cotton yarn is much lower than the price obtained by the value-added product.

Figures suggested that export of raw cotton increased phenomenally almost 79 percent in the first four months of current fiscal over same months of last year whereas export of cotton yarn also grew 14.06 percent during the months under review.

The export of yarn other than the cotton yarn also recorded 82 percent growth during July-October of current fiscal.

When it comes to export of value-added products, the bleak scenario is still prevailing on the export of these items as export of knitwear was down almost eight percent during the months under review.

Export of bedwear decreased nine percent during these months. Towel export declined 9.82 percent, tents, canvas & tarpulin 13.07 percent. Export of cotton cloth was down 30.41 percent and cotton carded or combed 90.31 percent.

Export of readymade garments was up by 5.44 percent and art, silk & synthetic textile 74.23 percent during these months.

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