Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

Pakistan emerges as world’s top apparel exporter

  

Pakistan emerged top apparel exporter to the world in February’21, reveals Sourcing Journal. The country increased its apparel supply to the US amidst COVID-19, says Abdul Razak Dawood, Adviser to Prime Minister. On the other hand, apparel exports by India, Vietnam and Indonesia to the US declined both in value and volume terms.

Pakistan government’s policies for the textile industry played a significant role in enhancing its exports. However, the country is facing a shortage of seven million bales of cotton. Giving in to the pressure from the textile industry, the government recently allowed duty-free import of cotton yarn.

During the pandemic, the medical textile industry also grew as bed sheets were discarded frequently, says Karim Punjani, Head, DH Corporate Research. The pandemic has also accelerated countries’ need to diversify their supply, offering Pakistan an opportunity to boost its exports. Pakistan can encourage foreign direct investment in this sector by inviting companies to move their factories from other countries to the free economic zones in Pakistan, he adds.

 
LATEST TOP NEWS
 
 
MOST POPULAR NEWS