Textile's value-added sector remained the main engine of growth for the economy as its exports registered an increase of 22.72% to an unprecedented high of US$1.40 billion as compared to US$ 1.14 billion in December 2019 and increased by 9.2% when compared to US$1.28 billion in November 2020. Textiles amount to about 60% of Pakistan's total exports and the nation allowed its factories to open ahead of India and Bangladesh when the pandemic first emerged in 2020, drawing orders from global brands including Target Corp. and Hanesbrands Inc. "A lot of orders actually were shifted from Bangladesh and India to Pakistan" during the . It is the largest Manufacturing Industry in Pakistan. However, in recent years, textile exports have declined significantly. In 2015-2016, this number had dropped 7.7% to $10.395 billion. Nearly 73.4% of exports went to EU countries, with Germany and Spain as the primary recipients. Pakistan Textile Exports Up More Than 8%. . Copper was the fastest grower among the top 10 export categories, up by 22.7% from 2019 to 2020. As per the customs export data, Cotton ($3,252 million), Edible Fruits & Nuts ($398.7 million), Instruments & Apparatus ($454.1 million), Rags & Madeup Textile Articles ($4,070.6 million), Chemicals, Metal & Stone ($434.4 million), Crustaceans & Fish ($475.4 million) are some of the major export categories . 8.5% of total GDP. The total exports of textile and clothing were $15.4 billion in 2020-21 against $12.526bn of the previous year. Textile and clothing exports account for over 61% of Pakistan's total exports and the industry provides direct employment for about 40% of the country's total industrial workforce. | Blog. These are the top names that produce and export items - like textiles and rice - Pakistan is known for, and bring critical foreign exchange Pakistan needs to meet its fuel and other import needs. March 14, 2020. Similarly, cotton cloth (200% YoY). — AP/File. Pakistan had a total export of 23,748,680.25 in thousands of US$ and total imports of 50,063,059.56 in thousands of US$ leading to a negative trade balance of -26,314,379.31 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Pakistan is 8.69% and the Most Favored Nation (MFN) Weighted Average tariff is 9.82%.The trade growth is -3.20% compared to a world . The EU is Pakistan's second most important trading partner, accounting for 14.3% of Pakistan's total trade in 2020 and absorbing 28% of Pakistan's total exports. Trisha Downing. Cotton arrival at Pakistan ginneries up 36.81% as on January 1. The United States dropped one place and ranked the world's fifth-largest textile exporter in 2020 (was 4 th from 2015 to 2019), accounting for 3.2% of the shares (was 4.4% in 2019). Textile Policy 2020-25: Pakistan to increase textile exports to $25.3b by 2025. export. January 25, 2020 . Pakistani exports to the EU are dominated by textiles and clothing, accounting for . Sep 10, 2021. Pakistan textile industries export different types and sizes of towels to other countries, but the biggest export is that of cotton towels in different sizes and shades. latest available trade, tariff, trade barriers and other trade related data Click Here . Pakistan to implement new textile policy this month with $20 bln export target. In fiscal 2020-21 ending June 30, textile and garment exports from Pakistan increased by 22.94 per cent to $15.400 billion over $12.526 billion exports in the previous fiscal. Index numbers of Quantum of Imports by Group. 2019: Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood shared . Total services trade was worth $1,052 million in 2019, up 10.6 per cent on the previous year, reflecting growth in the number of Pakistani students studying in Australia. Country / Region. Pakistan quarterly trade data. Its share stood at around 60% ($12.53 billion) in total exports ($21.39 billion) in fiscal year 2019-20, according to the Pakistan . This new textile policy is an example of the type of developmental model wherein the government incentivizes a select industry so that it can be - or remain, in the case of Pakistan's textile industry -- a significant contributor to the overall economic stability of the country. bales, down 100,000 bales from the revised 2019/20 estimate and 21 percent less than last year's annual projection of 8 million bales. The overall exports of textile and clothes had been $15.4 billion in 2020-21 compared to $12.526bn in the previous year, according to the recent data by the Pakistan Bureau of Statistics. Discover profitable strategy, access Textile bast export import shipment data records with 83 Textile bast importers and 83 Textile bast exporters from Pakistan. The share of textiles in total exports stood at 60% ($10.41 billion) of the total exports at $17.45 billion in the first nine-months (Jul-March) of the current fiscal year ending June 30, 2020 . HS Code Import USD$ (27) Oil & Mineral Fuels: $14,387,826,303 (84) Industrial Machinery Contribution in economy is equal to approx. LAHORE: The top 100 exporters of the country exported goods worth $9,558 million in FY19 (July 1, 2018-June 30, 2019), which was 40pc of the total exports ($24,251 million). The global textile industry growth continues to be driven by the world's largest textile producing countries and the top textile exporters in 2020, mainly owning to their rising production and sales of materials such as cotton, yarn, fiber and other finished products or apparels. 8.5% of total GDP. . +94 11 454 2231, +94 11 452 8494 info@jaafsl.com Pakistan exports for 2020 was $25.26B, a 10.29% decline from 2019. The draft of Pakistan Textile Policy for 2020-25 with 4 tier strategy and 21 recommendations is all set to be pitched before the ECC for approval. Exchange rate volatility has negatively affected the volume of Pakistan's exports, especially textile products. Among the major value-added categories, growth was most rampant in garments (297% YoY), knitwear (274% YoY), bed-wear (212% YoY). Textiles comprise 57% of Pakistan's export revenues. ISLAMABAD: Pakistan's exports of textile and clothing posted a 22.94 . Pakistan Exports of other made textile articles, sets, worn clothing to Finland - data, historical chart and statistics - was last updated on March of 2022. Cumulative Exports by Major Countries. textile sector of Pakistan in the global market by employing several indices of Revealed Comparative Advantage. Pakistan is the 8th largest exporter of textile commodities in Asia. Textile exports grew by 4.88 percent year-on-year to . According to the Pakistan Bureau of Statistics, the country's exports increased 8.32% from $2 billion in November 2019 to $2.17 billion in November 2020. The data on textile exports of Pakistan have been taken from the international trade center (ITC) UN-Comtrade statistics from 2003-2018. Textiles | On 22nd Dec 2021 . Export sales for miscellaneous textiles and worn clothing increased 5% as did the fruits and nuts category. The findings of the analysis exemplify that Pakistan's textile exports had a comparative and Pakistan's textile exports posted robust growth in December 2021, figures released by the Ministry of Commerce show. Pakistan's Marketing Year (MY) 2020/21 cotton production is forecast at 6.3 million 480 pound (lb.) In 2020, China exported approximately 10.44 billion U.S. dollars worth of textile yarn to the rest of the world. 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