Pakistani energy crisis pushes down textile exports by 17.7 percent (Pakistan)
The unending gas and electricity crisis and overall law and order situation of the country downed the 2011-12 textile exports by 17.7 percent, in dollar terms by $1.432 billion as compared to 2010-11 exports.
According to Federal Bureau of Statistics (FBS) statistics for July 2011- June 2012, Pakistan exported textile products valued at $12.356 billion during this period against $13.788 billion exported previous year.
It may be added that Pakistan has been a major exporter of cotton yarn, cotton cloth, knitwear, bed wear, towels, readymade garments made-up articles etc over the years. However, it suffered huge losses in export of these value-added textile products during the out-going year mainly due to energy crisis, insecure environment and political instability.
Cotton exports dropped from $2201. 405 million to $1794. 575 million, knitwear exports from $2305 million to 1974 million, a net loss of $330 million, bed wear export from $2088.898 million to 1748.327 million, and cotton cloth exports decreased from 2623.195 million to 2454.701 million, a loss of $168.494 million as compared to exports of 2010-11.
Talking to Business Recorder, textile industry experts claimed that the textile and clothing exports could have touched the figure of $22 billion by end June 2012 but due to energy shortages, the exports could not fetch even the 2010-11 year's impressive export earnings mainly driven by the rise in cotton prices in the international market.
They said energy shortage was the prime cause of decline in exports because 40 percent of the production capacity of textile industry is dysfunctional due to inadequate supply of electricity and gas. Overall the industry experienced gas supply suspension for 120 days during March-October.
They said the energy shortage and high interest rates made the industry uncompetitive in the international markets while China, India and Bangladesh have been supporting their textile industry in view of the economic slowdown in Europe and the United States.
According to Federal Bureau of Statistics (FBS) statistics for July 2011- June 2012, Pakistan exported textile products valued at $12.356 billion during this period against $13.788 billion exported previous year.
It may be added that Pakistan has been a major exporter of cotton yarn, cotton cloth, knitwear, bed wear, towels, readymade garments made-up articles etc over the years. However, it suffered huge losses in export of these value-added textile products during the out-going year mainly due to energy crisis, insecure environment and political instability.
Cotton exports dropped from $2201. 405 million to $1794. 575 million, knitwear exports from $2305 million to 1974 million, a net loss of $330 million, bed wear export from $2088.898 million to 1748.327 million, and cotton cloth exports decreased from 2623.195 million to 2454.701 million, a loss of $168.494 million as compared to exports of 2010-11.
Talking to Business Recorder, textile industry experts claimed that the textile and clothing exports could have touched the figure of $22 billion by end June 2012 but due to energy shortages, the exports could not fetch even the 2010-11 year's impressive export earnings mainly driven by the rise in cotton prices in the international market.
They said energy shortage was the prime cause of decline in exports because 40 percent of the production capacity of textile industry is dysfunctional due to inadequate supply of electricity and gas. Overall the industry experienced gas supply suspension for 120 days during March-October.
They said the energy shortage and high interest rates made the industry uncompetitive in the international markets while China, India and Bangladesh have been supporting their textile industry in view of the economic slowdown in Europe and the United States.
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文章关键词： energy crisis textile export
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