Pakistan leather products export growth 24.05%

Pakistan's Bureau of Statistics said on Thursday that exports of textile and clothing in 2007-08 fell 2.5% to $ 10.561 billion from a year-ago period of 10.787 billion U.S. dollars. Although the overall performance of the textile and garment industry is poor, the export target of 19.2 billion U.S. dollars has been completed because of the unexpected growth of non-textile exports. Non-textile exports increased by 39.9% from the $ 6,818.9 million of last year to $ 8.659 billion. During the reporting period, exports expanded by 2.24 billion U.S. dollars over the same period of the previous year. Non-textile exports made specific contributions. In non-textile products, exports of rice increased by 61.53%, oil products by 40.06%, sports goods by 4.23%, leather products by 24.05%, shoes by 8.21%, engineering products by 42.23% and cement by 181.69%. This shows that the country's exports are diversified. The share of textile and apparel exports now drops to 55%, compared with 64% in the same period of last year. However, the state provides several billion rupees for textile and garment industry subsidies. Non-textile products in 2007-08 increased sharply by 45% and by 36% in the previous year, while the government did not provide any financial subsidies. Analysts said this shows that subsidies are not real problems, but we must solve the problem of the weak structure of the textile industry. This means that the textile industry's production capacity has reached a saturation point. With the exception of raw cotton and other textile raw materials, all major textile product components have experienced negative growth. Although the rupee devalued more than 20% this year, the currencies of other major competition countries have risen sharply, such as India and China. In addition, the deterioration of the law and order environment is also responsible for the shift of export orders to other countries. Breakdown of export products in 2007-08, clothing exports fell 3.16% to 1.488 billion US dollars last year to 1.547 billion US dollars, 9.37% reduction in cotton yarn to 1.294 billion US dollars last year to 1.428 billion US dollars, 5.34% reduction in sheets to 1.887 billion U.S. dollars, 1.195 billion U.S. dollars last year, and 4.64% less cotton to 1.932 billion U.S. dollars, compared to 2.026 billion U.S. dollars last year. However, exports of knitwear increased modestly by 1.82% to 1.83 billion U.S. dollars, compared with 1.789 billion U.S. dollars last year and 38.85% of original cotton stocks to 69.737 million U.S. dollars last year, 50.226 million U.S. dollars and bath towels 0.77% to 6.15415 billion U.S. dollars last year, up from 6.1072 last year US $ 489.882 million, US $ 491.92 million last year, finished goods 4.24%, to US $ 536.1 million, US $ 513.313 million last year and other textiles 12.25% to 2.74001 trillion US dollars last year was 2.44100 trillion US dollars. 2007-2008, cotton carded exports fell 21.76% over the previous year to 12.32 million US dollars last year was 15.746 million US dollars, non-cotton yarn decreased 27.06% to 49.16.2 million US dollars last year to 67.397 million US dollars.