Pakistan’s Knitwear Garment Exports Register 11% Growth

Market News

Pakistan’s Knitwear Garment Exports Register 11% Growth

A steep growth of 11% in the knitwear garment section kept Pakistan’s flag flying high and it worked out to be the highest export in terms of revenue in the textile chain. During the first seven months of the fiscal year, knitwear garment exports registered a y-o-y comparison of 11.35% hike. In sharp contrast with the previous fiscal year’s FY 18, where the revenue figures stood at USD 1.54 billion, Pakistan exportd USD 1.72 billion worth knitwear in FY19. Pakistan’s knitwear garment exports grew astronomically when it came to a month on month comparison. For the month of January, the growth figures registered a 16.25 % hike from USD 213 million to USD 248 million. Muhammad Jawed Bilwani, Central Chairman, Pakistan Hosiery Manufacturers & Exporters Association (PHMA) said, “With adequate support from the government on the issues highlighted by the knitwewar industry, the exports can grow by 20 percent on a yearly basis. Bilwani said, “Knitwear Garment Sector is ranking on the top of Textile Group for last three years since 2015-16 also provides highest employment in the Textile Group. Knitwear Sector includes knitted products of Hoodies, Shirts, T-Shirts, Jersey, Pullover, Trousers, and Jackets. World's knitwear garment products imports stood at USD 225 billion annually. These will present massive opportunities for Pakistani exporters.” Bilwani expressed appreciation for the government’s proactive measures to enhance export figures in the knitwear sector.