Garments exports likely to fetch $50bn if govt continues support
September 9, 2022
Pakistan among five countries replacing China as major imports of US cotton
September 9, 2022
Despite consuming more fabric than most of the developed countries Pakistan is not among the 10 largest exporters of textile and clothing. But it may soon replace Spain with exports of $20.2 billion if it manages to maintain the growth in apparel exports.
Pakistan’s exports last fiscal were a shade less than $20 billion but are rising at a good pace in the last three years. World’s largest exporter in textile and clothing with $163.5 billion exports from garment manufacture. Next comes Germany that replaced Bangladesh to earn second place in terms of garment exports with annual exports of almost $40 billion. Bangladesh’s garment export value was around $38.73 billion in 2020. The country produces world-class products at a low cost, earning good reputation in the global competitive market.
Vietnam is the fourth-largest exporter in the list exports over $38 billion of textile goods. Specialization, modernization, and the manufacture of high-quality products are their primary goals to compete in this competitive market. India is at No:5 with exports of $37.11 billion. The Italian clothing industry is well-known in the fashion world. The products are produced from a vast range of fibers including cotton, linen, silk, and wool. Its exports average USD 36.57 billion a year. Turkish industry industry has graduated away from low-value-added commodities and toward high-value-added manufactured and stylish goods.
Turkey’s textile sector exports are worth USD 29.56 billion. With a value of USD 27.14 billion in exports, the United States is the eighth largest textile exporter globally. Hong Kong is the world’s 9th largest textile and clothing exporter, with a value of USD 20.43 billion in exports. With a value of USD 20.20 billion, Spain is the tenth-largest exporter. Spain’s textile commerce and production have made it a fashion hotspot.
