Knitwear export grows despite textile dull performance.
The country's knitwear apparel textile has shown significant growth as knitted garments' export during first 10 months of the financial year from July 2018 to April 2019 have registered an increase of 8.76% to $2.39 billion against $ 2.20 billion of the same period of last year. According to the latest data of Federal Bureau of Statistics, during the period under review, the export of woven garments was $ 2.18 billion showing an increase of 3.21% over the corresponding period last year. On the other hand, the whole textile group was on the decline with exports of $11.13 billion, 0.02% less than the exports of last year's corresponding period. Similarly, Pakistan's total exports have reported a downfall of 0.11% against the export of the same period last year.
Pakistan Hosiery Manufacturers Association (PHMA) chairman Adil Butt observed that by showing comparatively well performance the value-added textile category has proved that it has been the main driver of growth in the country's overall exports.
He said the value-added sector achieved growth because of preferential access to the 28-nation European Union under the GSP+ scheme which can further be enhanced with the government's support.
He further said that Pakistan needed to establish an Aggressive Marketing Plan for garment export to get maximum benefits of GSP-Plus status. He said that the apparel sector can play a leading role in earning foreign exchange and boosting exports. He suggested the government to establish a task force, especially at a time when the Chinese garment industry, which has more than 30% share of the world apparel market, is relocating.
He added that a regional task force needed to be established to determine issues being confronted by the industry and then to suggest measures to ensure its viability and competitiveness in the international market. Adil Butt observed that the garment industry is less capital intensive, provides 4 times as many jobs for the same investment, uses less energy and adds more value. Bangladesh's knitwear share stands at $15.18 billion, which is 50% of their total textile exports of $30.61 billion.
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|Publication:||Pakistan Textile Journal|
|Date:||Jun 30, 2019|
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