Pakistan Textile Exports Grew 32% To 11 Billion 150 Million US Dollars In 10 Months.

Karachi, according to official data on Wednesday, due to the international market

According to the Federation

Analysts attributed the increase in cotton prices around the world to exporters' better prices for exports.

Analysts said that in the current financial year, cotton producers faced serious problems, such as floods in Brazil and India's restrictions on cotton yarn exports.

Experts say that the current pace of textile exports will depend on the forecast of global cotton output next year.

The State Bank of Pakistan recently released a report that the August 2010 flood caused Pakistan's cotton production forecast to be reduced from 14 million bales to 11 million 700 thousand packets in the current fiscal year.

Despite the decrease in cotton production in Pakistan, the export of raw materials increased by 35.83%, from 194 million 50 thousand US dollars to 263 million 570 thousand US dollars.

However, this is mainly due to the higher price in the international market, because the number of exports has decreased by 29%.

Analysts also attributed export growth to the increase in demand for finished and semi-finished products in Pakistan after the recession.

In the 2010-11 months of July -4, textile exports accounted for about 55% of the total export volume of US $20 billion 154 million.

The State Bank of Pakistan said in its report that the current trend of textile exports will help Pakistan create export records in the current fiscal year.

The textile exports have increased greatly, including cotton yarn, cotton cloth, knitwear, bedding and garments.

Cotton and cotton exports increased by 37% and 32% to $1 billion 700 million and $1 billion 950 million respectively, compared with $1 billion 230 million and 1 billion 480 million US dollars last year.

Similarly, exports of knitwear, bedding and garments increased by 34.48%, 22.28% and 39% respectively.

As the export of textile products increased significantly, Pakistan planned to export $24 billion in this fiscal year.

The government set an estimated export target of US $21 billion 500 million in early 2011.