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Textile exports projected to cross $20bn target

by News Desk
December 4, 2021
in Business, Finance, Main
Reading Time: 2 mins read
Pakistan textile exports reach highest at $1.55b in Jan 2022
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With the ongoing $3.5 billion expansion plan for the textile industry, Pakistan’s textile exports are likely to increase by $6bn and cross the $20bn target projected for the fiscal year 2021-22.

While sharing data on how Pakistan’s textile exports increased, APTMA praises the textile entrepreneurs for the huge achievement.

“Textile entrepreneurs have honored their commitment, with expansion plans well on track,” APTMA revealed in a tweet.

“Textile exports are set to increase by 6 billion dollars this year compared to last year,” APTMA further added.

ALHAMDULILLAH
Textile entrepreneurs have honoured their commitment, with expansion plans well on track
Textile exports are set to increase by 6 billion dollars this year compared to last year, thereby equivalent to the 3 year IMF Program#PakistanMovingForward #textiles #exports pic.twitter.com/EmAaJyIb0Y

— All Pakistan Textile Mills Association (@APTMAofficial) December 4, 2021

“Since things are in the right directions at present, we will surely achieve our targets and even more this year subject to continuation of pro-exports’ policies,” the Aptma chairman believed.’

The association has termed textile growth in November and July to November, 2021 a good omen for the textile industry.

“Alhamdulillah Textile entrepreneurs have honoured their commitment, with expansion plans well on track Textile exports are set to increase by 6 billion dollars this year compared to last year, thereby equivalent to the 3 year IMF Program,” the association said in a tweet on Saturday.

According to data shared by Aptma, textile exports (silk, wool, cotton, vegetable textile fibres, man-made staple fibres, wadding, carpets, special woven fabrics, impregnated, coated textile fibres, knitted fabrics, apparel and other made-up textile articles etc) jumped to over $1.747bn (36pc) in November from over $1.286bn attained in the same period in 2020.

Likewise, exports jumped to over $7.834bn from July to November 2021, posting a rise of 29pc from over $6.052 recorded in the same period last year.

Tags: APTMAPakistan’s textilePredicts Pakistan’s Textile Exports
News Desk

News Desk

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