Prime Minister Imran Khan Thursday congratulated the exporters and commerce ministry over positive growth of country’s exports during last two months, contrary to the negative trend in India and Bangladesh.
According to data of regional exports, Pakistan’ exports grew by 8.32 percent in November last year against -9.07 pc of India and 0.76pc of Bangladesh.
Similarly, Pakistan’s exports jumped by 18.30pc in December 2020 unlike a drop by -0.80pc of India and -6.11pc of Bangladesh.
I have received the regional export trends and this shows that, compared to our exports, the exports of India and Bangladesh for Nov/Dec 2020 showed negative growth. I wish once again to congratulate the exporters and the Ministry of Commerce for this achievement. pic.twitter.com/lpmZa6MOl5
— Imran Khan (@ImranKhanPTI) January 7, 2021
The prime minister said he had received the regional export trends which showed that, compared to Pakistan, the exports of India and Bangladesh for November and December 2020 showed negative growth.
“I wish once again to congratulate the exporters and the Ministry of Commerce for this achievement,” the prime minister said on Twitter.
Global prospects of Pakistan’s textiles
Pakistan’s textile exports have largely recovered from the Covid-19 pandemic shocks and have picked a positive pace. Textile exports have been helped by multiple internal and external factors after tough times. Internally, the energy package announced for the export industry and market-based exchange rates has helped exports become competitive.
The external factors that have helped the orders from the West to almost double since July, include the US-China tensions, and ongoing supply disruptions induced by the Covid-19 pandemic in India and Bangladesh.
These factors have helped Pakistan grab additional export orders from Europe and America. Major international brands are coming to Pakistan because we have cost and tariff advantages over our Chinese competitors in EU and US markets while our Indian and Bangladeshi rivals are struggling because of supply chain disruptions. Pakistan is now an emerging country in textiles.
The new orders are a windfall for Pakistan’s industry. It can sustain for years to come; it all depends on how we steer this industry into the future. We are confident that the growth momentum will remain to continue and country & exports will scale new heights. Insha-Allah.
APP with additional input by GVS News Desk