Pakistan has been raising the bar in its apparel and textile exports for some time now and rightly so as the country’s exports have jumped significantly by 53.92 per cent on Y-o-Y to USA in value-terms during H1 ’21.
Markedly, Pakistan has crossed the level of pre-COVID time this year with significant margin, as analysed by Apparel Resources.
The Asian textile major has shipped US $ 1.92 billion worth of textile and apparel products to USA in January to June ’21 period, as compared to US $ 1.51 billion in the same period of 2019 – that’s pre-pandemic time.
In terms of volumes, Pakistan’s shipment to USA stood at 1,711.98 million SME in H1 ’21, noting 36 per cent Y-o-Y growth and 24.35 per cent surge on 2-year basis.
Of total shipment in H1 ’21, apparels constituted US $ 970.35 million (up 66.09 per cent Y-o-Y), while textile products contributed US $ 951.43 million, growing by 43.22 per cent as compared to H1 ’20.
It is predicted that the textile exports of Pakistan would remain robust as the global economies are opening up, and generating demand for apparels.
The unprecedented growth in H1 ’21 is being attributed to the major disruptions due to the lockdowns in competitive countries like India, Bangladesh, Vietnam and Central America.
Adding to that is the USA’s restrictions on the Chinese cotton from the Xinjiang autonomous region, which constitutes 80 per cent of the Chinese cotton crop. These restrictions have led to massive disruption in supply chain in recent months and Pakistan seems to have benefitted out of it.