According to official data released by All Pakistan Textile Mills Association (APTMA) and Pakistan Bureau of Statistics (PBS), the country’s textile exports have increased by 37.40 per cent on Y-o-Y basis to hit US $ 1.69 billion in February ’22 – the highest-ever in a month of a calendar year.
As far as January ’22 is concerned, the textile export figures were also up by 9 per cent in February ’22.
With the strong performance in textile manufacturing, Pakistan has been able to clock US $ 12.62 billion in July-February period of FY ’22, as compared to US $ 10 billion in the corresponding period of FY ’21, noting 26.20 per cent growth.
It’s worth noting here that Pakistan’s textile exports have been on a growth trajectory in the last several months despite gas shortage and expensive power.
“Pakistan is still benefiting from the export orders it captured in the peak times of COVID-19 in the world, when its competitors went under complete lockdown and Pakistan managed to keep its industrial sector open by opting for the smart lockdown policy,” commented Javed Bilwani, Chairman, Pakistan Apparel Forum.
Javed also raised serious concerns referring to Russia-Ukraine conflict and mentioned the movement of gas prices in the international market may escalate the manufacturing cost in the weeks to come, especially once European nations begin purchasing gas from the global market following supply disruptions from Russia.
“A country like Pakistan would be in a vulnerable situation, as expensive RLNG is not affordable for us,” noted Javed.
