Pakistan Textile Export To Enter The New Market
In the current financial year,
Pakistan
A new market has been found for textile exports, indicating significant changes from traditional markets.
But in
Spin
Among them, there is only a significant change in the destination of raw cotton products, which is an optimistic trend for Pakistan because Pakistan has a high dependence on traditional markets over the years.
Textile exports in the existing market show a significant upward trend, while export market customers are expanding, such as Singapore, Turkey and Portugal.
According to the analysis of textile industry analysts, the expansion of customer base is an optimistic phenomenon because the dependence of exports on the existing market is reduced.
However, analysts also pointed out that the ready-made clothing sector did not show the same trend, and the ready-made garments were located at the top of the textile chain.
This is also a major customer base in the same country, that is to say, during this period, the customer base has not been expanded.
Textile exports have now recovered, compared with the last financial year, but analysts say it is necessary to develop new markets and add more value added products. Only in this way can the strength of Pakistan's agriculture and textile sectors be brought into full play.
Experts say, if in the next few years, the country's foreign exchange and
Balance of trade surplus
To continue to rely on textile exports, expanding market access is a crucial factor.
In the first 11 months of this fiscal year, Pakistan's textile exports increased by 7%.
The contribution rate of the textile industry to the net exports of the whole country is about 53%. Therefore, an increase of 7% indicates that an increase of US $91 million 500 thousand in foreign exchange earnings has resulted in a 9 billion 324 million US dollar high in textile exports.
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