As a result of continued growth in global demand, Pakistan’s textile and clothing exports are up 26% in the first half (July to December) of the current fiscal year to $9.381 billion, from $7.44 billion in the previous fiscal year. previous fiscal year, according to Pakistani government data. Bureau of Statistics (PBS).
According to PBS data, exports from several industries grew in the first half of the current fiscal year. The export of textiles and clothing, which forms the backbone of total exports, has developed well due to several factors.
The main elements driving export growth include a large depreciation of the currency, a reduction in tariffs on raw materials, and the timely delivery of refunds and the payment of cash subsidies.
International markets, on the other hand, place orders with the country. While exporters expected that the existing gas challenges in different parts of the country would make it difficult to meet the export targets,
Due to increasing demand during the winter season, the country is currently struggling with a gas shortage.
According to the most recent PBS data, textile exports contributed to the country’s overall export growth.
Exports rose 24.7 percent to $15.102 billion in the first half of this fiscal year, from $12.110 billion in the same period last year.
