ISLAMABAD: The export earnings from readymade garments have increased significantly as these registered an increase of 8.51 percent in terms of value with 22.843 million dozens various types of items worth $ 1548.282 million during first three quarters of this year.
The number of various types of readymade garments exported during same period last year was 21.434 million dozens and their worth was $ 1426.826 million.
An official data on Monday showed that readymade garment industry has emerged as one of the important small scale industries in Pakistan as its products have large demand both at home and abroad. The local requirements of readymade garments are almost met by this industry. The garment industry is also a good source of providing employment opportunities to a large number of people at a very low capital investment. It mainly uses locally produced raw materials. Most of the machines used by this industry are imported or locally made and assembled. The data further revealed that production of garments by units depends on export orders directly or indirectly and these orders have somewhat risen in terms of value, but they have fluctuated widely in terms of quantity.
Hosiery industry shows 7.54% growth : The hosiery industry in the country has registered 7.54 percent growth with exports of $ 1791.789 million during first nine months of this fiscal year. In comparable period of last fiscal year, the industry’s exports were $ 1666.143 million. An official break-up on Monday revealed that even in quantity terms, the export of knitwear industry has increased by 1.67 percent. There are about 13,372 circular knitting machines, 10,646 flat knitting and 23,241 socks knitting machines spread all over the country. The capacity utilization is approximate 70 percent and there is greater reliance on the development of this industry as there is substantial value addition in the form of knitwear. Besides, locally manufactured machinery, liberal import of machinery under different modes is also being made and the capacity based on exports is being developed.
