KARACHI: Pakistan has made some genuine advances in the right direction with regard to business in the Year 2021 despite grim news on the economic and economic governance front.
The country has taken scores of steps this year required to keep the economy on the right trajectory.
The country’s textile and clothing exports saw a record increase of $1.74 billion in Nov 2021, data released by the Pakistan Bureau of Statistics (PBS) showed.
Textile exports rose by 8 per cent when compared to October 2021. The value-added textile and readymade garment sector saw an increase of 11pc while bed wear and towel exports grew by 9pc and 28pc, respectively.
November’s textile exports rose by 35 per cent as compared to the same month a year ago. The exports of knitwear were up by 40pc, bed wear 32pc, and readymade 27pc.
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Textile and clothing exports grew by 28pc to $7.8 billion in the first five months (July-Nov) of the current fiscal year, the data showed. Whereas, the value-added and basic textile were up by 28pc and 35pc.
Pakistan’s Textile exports are likely to rise to a whopping $18 billion if the US and European countries don’t impose any lockdown amid the spread of Covid Omicron variant.
