Global Recession Is Threatening To Drag Down Exports Of Pakistan Textile Products
according to
Federal Statistical Office
Data released last Friday, July
Pakistan
Textile exports fell by 15.26% to $1 billion 121 million, compared with exports of $1 billion 323 million in June.
Analysts believe that the main reason for the decline in textile exports is the global recession.
Fear
Reduce demand.
Ahsan Mehanti, head of investment in Arif Habib, said worries about global economic recession have affected demand.
But, he said, the decline will be a short time, textile exports will rebound in the current fiscal year, and a new high.
Textile exports will reach a new high of US $13 billion 800 million in 2010/11, compared with us $10 billion 221 million last year.
From a year-on-year perspective, the growth of textile exports in July was maintained at an earlier level, increasing by 982 million US dollars.
Overall exports of Pakistan
Soar
29%, to $25 billion, compared to $19 billion 290 million last year.
In textile products, except for raw cotton, exports of all products decreased in July compared with the previous month.
Exports of raw cotton increased by 17.38% to $11 million 521 thousand, compared with exports of $9 million 815 thousand in June.
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