Keeping in view the rebound in textile exports, traders have said that Pakistan can achieve the export target of $20 billion owing to export-oriented policies of the government and strong economic recovery in major export markets.
In a statement on Monday, Pakistan Textile Exporters Association (PTEA) chairman underlined that the textile export industry was entering the phase of sustainable economic growth after attaining stability. They anticipated the segment to keep moving forward to achieve lofty growth rate.
Expressing satisfaction on the rising trend, the chairman highlighted that the country’s exports had witnessed a rapid recovery since the Covid-related restrictions were lifted.
In the recent months, the outbound shipments of Pakistan have increased compared to the regional competitors – Bangladesh and India, he said.
Quoting figures, he pointed out that in October, shipments recorded highest ever monthly average of $2.46 billion.
Textile exports posted 24.24% growth in the same month, rising to $1.6 billion, he added.
Similar trend was observed in the first quarter of this fiscal year as textile exports grew by 26.55% to $6.02 billion, compared to $4.76 billion during the same quarter of previous year, the chairman highlighted.
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