By admin       2017-01-27

January 25, 2017 - Pakistan’s textile exports stood at US$1035mn for December 2016, down 1.21% MoM which calls for more focus on value addition as well as finding new markets to promote textile export which is mainstay of Pakistan economy However the value added segment defied the overall trend by posting a 3.39% MoM increase due to healthy demand because of Christmas but non-value added dragged the overall exports number by posting a 12.12% MoM decrease. Looking ahead, while the new export package worth PRs180billion contains some big positive measures for big players like NML and NCL duty drawbacks, removal of cotton import duty etc, timely release of funds and higher competitiveness exchange rate weakness will be essential to make these incentives effective. Further, broad-based measures to address quality of cotton remain absent for now. The cotton prices remained strong and it is expected to remain strong in the near term given the current supply-demand gap and rising prices of Indian cotton. It may be noted that the cotton prices are currently trading at PRs6450/maund after 10.5mn bales have reached ginners as of 15-Jan-17 while the total estimated demand of cotton is expected to be of 14.5mn bales. In the value added items, readymade garment led the segment with a 11.88% MoM increase while art, silk & synthetic products stood distant second with 6.81% MoM increase. On the other hand, towels and other materials buckled the trend with 4.84/3.14%, respectively

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