![]() ![]() The US imports approximately 40 billion dollars worth of textiles from China each year. ![]() Why is that US/China relationship so central to the textile industry? As the number 1 and 2 largest exporters, the relationship is largely symbiotic. ![]() However, there are possibly some rocky roads ahead for American exporters, as the textile industry has fallen victim to the US/China trade war. In fact, the industry employs an estimate of 600,000 workers. Textile exporting accounts for a healthy chunk of the US economy, with a figure of over 75 billion dollars worth of textiles being exported per year. The US is second to only China in textile exports. Published in Dawn, January 18th, 2022 Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.For textile export/import professionals, it’s common knowledge that the US is a major exporter of textiles (actually, the second largest!), but for others in the trade and logistics industry - maybe not so much. ![]() The import of worn clothing recorded a growth of 76pc to 504,915 tonnes from 286,848 tonnes last year.ĭuring the six-month period, the country’s overall exports posted a year-on-year growth of around 24.91pc to reach $15.13bn from $12.11bn in the same period last year. The import of synthetic and artificial silk yarn fell 5.30pc to 199,975 tonnes from 211,160 tonnes in the year-ago period. Similarly, the import of synthetic fibre dropped 10.32pc as the industry imported 216,513 tonnes this year compared to 241,429 tonnes. To bridge the shortfall in the domestic sector, the industry imported 377,573 tonnes of raw cotton in July-December compared to 331,583 tonnes a year ago, an increase of 13.88pc. The import of textile machinery jumped 88.24pc in July-December, reflecting expansion or modernisation in the textile industry. The export of raw cotton jumped 197pc to $1.76m during the six months compared to last year. The exports of made-up articles - excluding towels - rose by 11.36pc, while those of tents, canvas and tarpaulin dipped by 9.18pc during the period under review. Towel exports were up by 17.54pc in value and 7.15pc in quantity, whereas those of cotton cloth rose by 21.35pc in value and 12pc in quantity.Īmong primary commodities, cotton yarn exports surged 52.33pc and those of yarn made from material other than cotton by 110pc. Bedwear exports grew 19.04pc in value and 20.24pc in quantity. Liquidity issues were also resolved to a considerable extent by a timely release of refunds and the payment of cash subsidies.ĭata showed that ready-made garment exports jumped 22.93pc in value and but the quantity data was not available for the period during July-December, while the exports of knitwear edged up 35.21pc in value but dipped 0.73pc in quantity. In the budget 2021-22, the government drastically reduced duty and taxes on the imports of several hundred raw materials to bring down the input cost of exportable products. Several drafts have been presented before the Economic Coordination Committee, but the policy has yet to be approved. The government has yet to announce the much-awaited textile and apparel policy pending for the last few years. The year-on-year growth in December was recorded at 15.89pc, data released by the Pakistan Bureau of Statistics (PBS) showed on Monday. ISLAMABAD: Textile and clothing exports grew 26 per cent year-on-year to $9.38 billion in the first half of this fiscal year, mainly on the back of a massive depreciation in the rupee’s value and a steady rise in global demand. ![]()
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