According to a report by Pakistan’s Express Tribune on June 24, the total export volume of Pakistan’s textile industry in the first 11 months of this fiscal year (July 2014-May 2015) was US$12.25 billion, a decrease of 1.7% compared with the same period of the previous fiscal year. . The European Union’s Generalized System of Preferences (GSP) contributed 13% to Pakistan’s textile exports this fiscal year. Without EU GSP treatment, Pakistan’s textile exports would decline by 15% this fiscal year. If the Pakistani government does not take measures in taxation and other aspects, textile exports will drop by more than 15% in the next fiscal year.
Pakistan’s exports of major textile categories declined across the board, with high value-added products falling by 2% year-on-year and general products falling by 14.1% year-on-year. The main reasons include: first, the government failed to refund the consumption tax on exported goods in a timely manner; second, the economic growth of the EU, the main export destination, decreased, and demand decreased; third, the euro depreciated against the rupee, reducing export earnings; fourth, China and other Pakistani cotton Demand from major exporting countries has fallen, and Pakistan faces competition from countries such as India. Pakistan’s textile exports decline