Increased demand leads to a surge in exports of Pakistani cotton and garments

According to foreign reports on August 23, Pakistan's cotton cloth and clothing exports have increased substantially due to the increase in foreign textile demand and the fall in domestic exchange rates.

In July, Pakistan’s cotton export volume reached 145.2 million square meters, up 14.9% year-on-year, and cumulative exports from January to July increased by 10.8% year-on-year; during the month, apparel exports reached 13.8 million dozen, up 21.6% year-on-year, among which knitting The export volume of woven garments increased by 23.3% and 15.6% year-on-year respectively.

According to analysis, the continued weakening of the Pakistani rupee against the US dollar offset the increase in yarn costs to a certain extent, and reduced the average export cost of garments. The export cost in July fell to US$24.34 per dozen, the lowest value for the same period in three years. In the long run, Pakistan’s rupee exchange rate may continue to decline, while foreign demand remains strong, so Pakistan’s cotton and clothing exports in 2010/11 are expected to continue to increase.