PAKISTAN:Textile Exports rise to $4.81bn in July-Nov.

According to the provisional statistics of export receipt performance during the first five months of the current fiscal year, all the finished textile products have shown improvement in their exports.

The value-wise major component in textile exports was knitwear under which foreign buyers imported textile products worth $1.075 billion from Pakistan.

The knitwear exports jumped up by 24.28 percent during July-November against $865 million during the corresponding period last year.

Similarly, the exports of bedwear showed a growth of 22.31 percent to $795 million during the period under review from $650 million last year.

Exports of readymade garments, however, grew nominally to $414.5 million against $412 million. Industry sources said that the economic recovery in the world after facing recessionary period during 2008 and 2009 resulted in high demand for the textile products.

Pakistan is one of the largest exporters of textile products, therefore, the country exports registered substantial growth, experts said.

The provisional export data of the State Bank of Pakistan (SBP) also revealed that exports of raw material continued despite floods catastrophe, which damaged crops on a vast area and cotton production.

The raw cotton exports gone up by 17.27 percent to $129.46 million during the period under review from $110.55 million last year.

Similarly, cotton yarn exports grew to $507 million from $443 million, the SBP said.

The government has estimated that the textile exports would be around $10.4 billion in FY11 against the $10.182 billion last year.

The country’s total export receipts reached $9.033 billion in July-November, showing 17.34 percent growth from $7.698 billion during the corresponding period last year, the SBP data said.