- Pakistan’s textile exports increased by 231% YoY in Apr-2021, where such impressive growth (or rather, recovery) was always on the cards, given the lockdowns last year as business activities remained curtailed.
- Among the major value-added categories, growth was most rampant in garments (297% YoY), knitwear (274% YoY), bed-wear (212% YoY). Similarly, cotton cloth (200% YoY) and cotton yarn (165% YoY) also enjoyed a strong resurgence.
- On MoM basis, textile exports edged down slightly by 1.3%, owing mainly to lower export value of yarn, cotton cloth and garments. For comparison purposes, average MoM growth in April over March during the preceding 5 years (Apr-2015 to Apr-2019) stood at ~0.7% (excluding Apr-2020 due to the pandemic abnormality).
- Cumulatively, textile exports surged by 17% YoY to US$12.69bn, as all value-added categories enjoyed strong double digit growth during the period. Textile exports are expected to continue to grow briskly throughout the remaining two months of FY21 as the low-base effect will linger on.
- Key trigger to exports in FY22 will remain the upcoming budget and textile policy with incentives that can be afforded to the sector.
Download full report here: