Ever since COVID-19 hit the world, the global apparel industry has witnessed a never-seen before disruption in its supply chains. The impact of pandemic has clearly been seen in the global retail industry which has further impacted manufacturing businesses…
Amidst all this, one country that has kept its head high and sailed through rough waters all these months is Pakistan for which pandemic has come as a boon.
For the first time ever, the country is likely to cross US $ 2 billion export value in the US market by 2021 end, as per a forecast done by team Apparel Resources recently.
Pakistan is predicted to grow massively by 42.82 per cent in 2021 over 2020 and 36.86 per cent over 2019.
As per official data released for the period Jan.-Sep. ’21 by OTEXA, Pakistan has already shipped US $ 1.56 billion worth of garments in the USA market, noting 62 per cent Y-o-Y growth.
This remarkable export performance is a result of Pakistan’s strong position in cotton-made apparels which is further being reinforced as time passes by.
Of total export values, denim apparels are likely to contribute around 19 per cent with US $ 380 million revenues by 2021 end, as per our forecast.
It is being said by the industry experts that Pakistan has gained advantage of strong cotton supply chain in pandemic times due to USA’s restrictions on the Chinese cotton from the Xinjiang autonomous region, which constitutes 80 per cent of the Chinese cotton crop.
Initially, it was speculated India may get benefits from this disruption but, as per our data analysis, that doesn’t seem to be the case.