Pakistan’s exports of textiles and clothing in May reached US$1.642 billion, a month-on-month decrease of 5.58%, a year-on-year increase of 54.89%, the highest year-on-year increase in a single month this fiscal year; the export of cotton yarn was 27,100 tons, a month-on-month increase of 54.89%. An increase of 10.94%, a year-on-year increase of 14.83%; the export of cotton cloth was 36 million square meters, a month-on-month increase of 10.63%, a year-on-year increase of 43.63%.
In the 2021/22 fiscal year (July 2021-May 2022), Pakistan’s exports of textiles and clothing reached US$17.615 billion, a year-on-year increase of 28.04%, accounting for total merchandise exports 61.06% of the total; exports of cotton yarn were 308,700 tons, a year-on-year decrease of 11.54%; exports of cotton cloth were 399 million square meters, a year-on-year decrease of 62.15%.
In the context of the epidemic and the conflict between Russia and Ukraine, Pakistan’s textile and clothing industry can still grow steadily for the following reasons: 1. The release of the textile and clothing policy revision bill not only reduces Import duties and taxes on nearly a hundred kinds of raw materials, and provide internationally competitive electricity and natural gas prices, local tax rebates (DLTL) and other promotional policies; 2. The sharp depreciation of the rupee and the steady increase in global demand have promoted the effectiveness of textile and clothing export orders recover.
