Business

Pakistan’s cotton yarn exports to China surge by 65.85%

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Digital Desk

2 years ago

ISLAMABAD: Pakistan’s cotton yarn exports to China have surpassed the $166.37 million mark with an increase of 65.85%, in the first quarter of 2024, state-run APP reported.

General Administration of Customs of the People’s Republic of China (GACC) data showed that in the first quarter of 2024, the imports of uncombed single cotton yarn containing 85% or above (commodity code 52051200) from Pakistan crossed $ 99.12 million, compared with $72.70 million in the same period, whereas the imports of cotton yarn (commodity code 52051100) crossed $65.78 million, up from $26.28 million in the same period last year.

General Manager of China Operations Keywin Trading Ltd, Sajjad Mazahir told China Economic Net (CEN) that China’s increasing demand for Pakistan cotton textiles is because China’s industry balances itself with both exports and local downstream orders. He said that a few years back, Pakistan’s textile products were in demand only for exports but now it has taken a good market share in China’s domestic market, too.

Currently, he said that Pakistan’s supplies include cotton, cotton yarns, and Griege fabric. They were preferred by many customers due to their competitive prices and quality. Yet, there is much to do for Pakistan to diversify its textile exports, he added.

He noted that the textile industry in Pakistan is facing challenges from the high cost of power and slow demand globally, and the Chinese market gives Pakistani exporters ample opportunities.

He further said that for diversification, Pakistan has to provide finished products to the local Chinese market, and a lot of effort is required to leverage the advantages of the Pakistan-China FTA. Though most of our products are covered under the zero duty structure, many do not enter Chinese markets in good volume, such as home textiles, towels, and apparel, he added.

Digital Desk