Pakistan Textile Exports Grew 32% To 11 Billion 150 Million US Dollars In 10 Months.

Karachi, according to official data on Wednesday, Pakistan textile exports grew by 32% in the month of July 2011 -4, reaching 11 billion 148 million US dollars due to higher commodity prices in the international market.

According to figures released by the Federal Statistical Office (FBS) last month textile Exports grew 46.56% from last April to $1 billion 270 million.

Analysts attributed the increase in cotton prices around the world to exporters' better prices for exports.

Analysts said that in the current financial year, cotton producers faced serious problems, such as floods in Brazil and India's restrictions on cotton yarn exports.

Experts say that the current pace of textile exports will depend on the forecast of global cotton output next year.

The State Bank of Pakistan recently released a report that the August 2010 flood caused Pakistan's cotton production forecast to be reduced from 14 million bales to 11 million 700 thousand packets in the current fiscal year.

Despite the decrease in cotton production in Pakistan, the export of raw materials increased by 35.83%, from 194 million 50 thousand US dollars to 263 million 570 thousand US dollars.

But this is mainly because international market The price is higher because the number of exports is reduced by 29%.

Analysts also attributed export growth to the increase in demand for finished and semi manufactured goods from the European Union and the US economy after the recession ended. In the 2010-11 months of July -4, textile exports accounted for about 55% of the total export volume of US $20 billion 154 million.

The State Bank of Pakistan said in its report that the current trend of textile exports will help Pakistan create export records in the current fiscal year.

The textile exports have increased greatly, including cotton yarn, cotton cloth, knitwear, bedding and garments.

Cotton and cotton exports increased by 37% and 32%, respectively, to $1 billion 700 million and $1 billion 950 million, compared with last year's Exit The amount was $1 billion 230 million and $1 billion 480 million respectively.

Similarly, exports of knitwear, bedding and garments increased by 34.48%, 22.28% and 39% respectively.

Pakistan has planned to export US $24 billion in the current fiscal year due to a substantial increase in exports of textile products.

The government set an estimated export target of US $21 billion 500 million in early 2011.