Islamabad: Pakistan’s textile exports shot up by 7.2 per cent to $1.1 billion in February as against the same period last year, officials said. India and Bangladesh are the main buyers of Pakistani cotton.
The increase in Pakistan’s overall textile exports was attributed largely to the surge in non-value added exports which were bolstered by 17.4 per cent in February against the same month last year and 13 per cent when compared with the previous month (January) to $299 million, the Pakistan Bureau of Statistics (PBS) said on Thursday.
Pakistan’s cotton yard exports posted a tremendous growth of 54.7 per cent in February. Experts believe Indian and Bangladeshi textile mills were the main buyers of Pakistani cotton.
The margins of textile sector also increased due to the depreciation of Pakistani rupees against the dollar by 10 per cent cumulatively from June last year.