According to the data of Pakistan Bureau of Statics (PBS) Pakistan’s textile and clothing exports have increased by 26 per cent to $9.381 billion in first half (July to December) of the current fiscal year from $7.44 billion in the corresponding period of the year due to a steady rise in global demand.
PBS data also showed that exports of different sectors have shown growth in the first half of the ongoing financial year. As the textile and clothing exports are backbone of the overall exports, have recorded healthy growth due to the several factors. The massive depreciation in currency value, reduction in duty on raw materials and timely release of refunds and the payment of cash subsidies are the major factors behind increase in exports.
However, the country is receiving orders from international markets. While the exporters believed that the current gas issues in different parts of the country might cause problems for meeting exports targets. The country is facing gas crisis in current months due to increase in its demand in the winter season. The latest data of PBS showed that textile exports had helped in increasing overall exports of the country. The country’s exports increased by 24.7 percent and remained $15.102 billion in the first half of current fiscal year compared to $12.110 billion during the same period of 2020-21