Pakistan’s textile exports soared to a 26-month high in August, reaching $1.64 billion—a 13% increase compared to the same month last year.
This surge is credited to supportive government policies and the efforts of the Special Investment Facilitation Council (SIFC).
Data from the Pakistan Bureau of Statistics indicates that textile exports were $1.46 billion in August of the previous year.
Notable growth was seen in various sectors, with knitwear and bedwear exports rising by 15%, while ready-made garment exports jumped by 28%.
Analysts suggest that Pakistan’s strategic position in the global textile market has been bolstered by political instability in Bangladesh and international sanctions on China, prompting global importers to seek alternatives.
Shagufta Irshad, a research analyst at JS Global, highlighted that these factors have enhanced Pakistan’s appeal as a favorable market for textile products.
Read more
Interloop Ltd, a leading textile company in Pakistan, anticipates continued growth in exports, which could improve profit margins and positively impact the country’s economic outlook.
The report emphasizes that with the current global dynamics, Pakistan has a significant opportunity to further boost its exports by enhancing product quality in the international market.
