Pakistan records highest ever textile exports in January 2022
- By Web Desk -
- Feb 02, 2022
ISLAMABAD: Pakistan’s textile exports have reached new heights after they reached Rs1.55 billion in January 2022, the highest ever exports from the sector in a month, ARY NEWS reported.
The details were shared by Senator Faisal Javed Khan, a close confidante of Prime Minister Imran Khan, from his Twitter handle.
While sharing a graph of textile exports in the country, Faisal Javed shared that the country’s exports have reached a record high in a month after they reached Rs1.55 billion in January 2022.
“Pakistan has already left behind India and Bangladesh in the export of textile goods to the United States and European countries,” he said.
جنوری 2022 میں پاکستان نے 1.55 بلین ڈالر کے ساتھ ملکی تاریخ کی ایک ماہ میں سب سے بڑی ٹیکسٹائل برآمدات کیں –
امریکہ اور یورپی یونین کو ٹیکسٹائل مصنوعات برآمدات میں پاکستان نے پہلے ہی ہندوستان اور بنگلہ دیش کو پیچھے چھوڑ دیا –#PakistanMovingForward pic.twitter.com/tBYZmnAGxZ
— Faisal Javed Khan (@FaisalJavedKhan) February 2, 2022
It is pertinent to mention here that Pakistan’s textile exports are expected to hit new heights after orders from regional competitors, Indian and Bangladesh, are being diverted to the country owing to the COVID pandemic and facilitation provided to the sector from the incumbent government.
This was the crux of a Bloomberg report which quoted Adviser to Prime Minister on Commerce Abdul Razak Dawood as saying that textile exports are expected to increase by 40% from a year ago to a record $21 billion in the fiscal year ending in June.
One of the few economic positive spots in the country is the textile industry, which supplies everything from denim pants to towels to buyers in the United States and Europe, said the report.
“A lot of orders actually were shifted from Bangladesh and India to Pakistan” during the pandemic, said Dawood in an interview at his Islamabad office. “The other good thing that’s happening is we are now becoming competitive with Bangladesh. Three, four years ago, Bangladesh was really beating us.”