Industrial Cluster: Pakistan'S Textile And Garment Export Increased By 35.73% In February

In the fiscal year 2021 / 22, Pakistan's export of textiles and clothing in February reached 1.675 billion US dollars, with a month on month increase of 7.93% and a year-on-year increase of 35.73%; The export of cotton yarn was 33200 tons, up 71.21% month on month and 25.25% lower than the same period last year; The export of cotton cloth was 38 million square meters, with a month on month increase of 2.63% and a year-on-year increase of 21.37%.

In the fiscal year 2021 / 22 (July 2021 to February 2022), Pakistan exported 12.609 billion US dollars of textiles and clothing, with a year-on-year increase of 26.04%; Export cotton yarn 2345000 tons, a year-on-year decrease of 7.52%. The export volume of ready-made clothes increased by 25.11% and 20.54% respectively; The export volume of knitwear increased by 33.86% and 4.75% respectively; The export volume of bed products increased by 20.34% and 17.28% respectively; The export volume of towel increased by 17.26% and 5.56% respectively.

Affected by the tense relations between Russia and Ukraine, the rising prices of crude oil and liquefied natural gas, and the slow recovery of supply chain, Pakistan's trade deficit has expanded by 82% to 31.9 billion US dollars in 2021 / 22 (July 2021-february 2022). In order to reduce the trade deficit and strengthen textile export, Pakistan government approved the amendment bill on textile and clothing policy from 2020 to 2025. In addition to reducing import tariff and tax on raw materials, Pakistan will also provide internationally competitive electricity and natural gas prices and local tax rebate (dltl) programs for the textile industry. At the same time, we will upgrade the export target of textile and clothing from US $20 billion in fiscal year 2021 / 22 to US $40 billion in fiscal year 2024 / 25.