The “Textile industry” is the largest manufacturing industry in Pakistan. It has created a lot of employment opportunities for both skilled and unskilled labor after agriculture. It’s officially certified that Pakistan is the 8th largest exporter of textile products in Asia and the 4th largest producer of cotton with the 3rd largest spinning capacity in Asia after China and India. This sector contributes 8.5% to the GDP of Pakistan.
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| Pakistani yarn spinning mill |
It’s a great news for the Pakistan textile industry that, in the current financial year textile exports surged to $13.74 billion during previous financial year 2013-2014, which was $13.05 billion. It has done mainly because of the GSP Plus status granted to Pakistan by the European Union (EU).
Meanwhile Pakistan Bureau of Statistics (PBS) has released a data about their current textile exports, where it’s shown that during the period under review, export of raw cotton has registered an increase of 33.27%, cotton cloth 3.11%, yarn 12.82%, knitwear 10.53%, bed wear 19.78%, readymade garments 8.67%, made-up articles 11.41% and other textile materials 23.24%. On the other hand, exports of the following textile commodities have recorded negative growth including cotton yarn 11.65%, cotton carded 53.3%, tents, canvas & tarpaulin 30.07% and art, silk & synthetic textile, 5.47%.
While textiles exports to the rest of the world declined by 3.5 percent, in the same time Pakistan Textile exports to the European Union (EU) registered an increase of 18% reaching the figure of $5 billion for the first time ever. The main reason behind such kinds of achievement in textile exports is GSP Plus status effectiveness from January 2014. Here it’s should be mentioned that the EU has given the GSP Plus facilities to three new countries including Pakistan from January 1, 2014 and will end on December 31, 2016.
The European commission has released a recent data where it has seen that during the January-April 2014 Pakistan textile exports to the EU increased by $333.18 mn. It has known from the official source that due to the Pakistan China Free Trade Agreement (FTA), trade volume between the two countries stood at $13 bn in 2013, while it is expected to reach $15 bn by 2015. After the implementation of FTA in 2007, considerable improvement has been seen in it’s ranking.
Reported by-
Mayedul Islam
Senior Reporter of Textile Tribune
Assistant Chemist
Ha-Meem Group, Tongi, Gazipur, Bangladesh
Email: mayedul.islam66@gmail.com
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