According to Pakistan’s “Dawn” report on July 28, data from the Pakistan Bureau of Statistics showed that Pakistan’s value-added textile products exports (Value-added Textile Products) rose from US$4.2 billion to US$4.5 billion in the 2014-2015 fiscal year, an increase of 7.5%. Among them, exports of ready-made clothing increased from US$1.9 billion to US$2.1 billion, an increase of 10.5%, and exports of knitwear increased from US$2.29 billion to US$2.4 billion, an increase of 5.37%.
Official data shows that the government’s assistance to the textile industry in the 2014-2015 fiscal year was 6 billion rupees (approximately 60 million U.S. dollars), an increase of 100% from the previous fiscal year, and was mainly targeted at the value-added textile sector. The government hopes to address trade imbalances and create jobs for young people by increasing exports of high value-added textiles.
Another important reason for the increase in textile exports is that Pakistan has benefited from the “Generalized System of Preferences+” (GSP+) plan to enter the huge market of the 28 EU countries. Pakistan’s value-added textile exports increased by 7.5% in fiscal year 2014/15