Pakistan Textile Export Revenue Will Be Reduced By US $1 Billion.
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Pakistan
Textiles accounted for 55% of the total exports of the country, and textile also provided 38% of the employment rate for the national workforce.
On Wednesday, industry officials said weak demand and increased production pressure.
World cotton prices
This will lead to an increase of $more than 1 billion in Pakistan's main textile exports in the fiscal year 2011/12, although cotton harvest is expected.
Industry officials said on Wednesday that textiles and cotton accounted for nearly 60% of Pakistan's exports in the fiscal year 2011/12.
Fragile state economy
The main source of foreign exchange, Pakistan borrowed $11 billion from the International Monetary Fund (IMF) in 2008.
Yasin Siddiq, senior industry official, said that textile exports will reach between us $12 billion and US $12 billion 500 million this year as world cotton prices fall.
Analysts said that despite the serious loss of cotton production caused by the floods in 2010, Pakistan's textile export value will reach US $13 billion 800 million in 2010/11, compared with the US $10 billion 220 million export value last year, mainly due to the high price of cotton worldwide.
Last year, clothing and clothing exports in Pakistan amounted to $1 billion 770 million. Manufacturers worried that exports would continue to decline this year. They said that because of the fluctuations in cotton prices and the long-term energy crisis in Pakistan, foreign buyers were reluctant to place orders, so Christmas demand decreased significantly.
The International Cotton Advisory Committee said this month that world cotton output will increase by 8% to 26 million 900 thousand tons this year.
The increase in production is expected to lead to a fall in prices.
Pakistan analysts expect that in 2011/12, Pakistan's textile exports were between $12 billion 800 million and $13 billion, they said.
Us downgrade storm
It will not have much impact on Pakistan's textile exports.
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