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Pakistan reports 65.85% rise in cotton yarn exports to China in Q1, FY24

  

Pakistan's exports of cotton yarn to China rose by 65.85 per centto over $166.37 million in Q1, FY24.

Data from the General Administration of Customs of the People's Republic of China (GACC) shows, in Q1, FY24, China’s imports of uncombed single cotton yarn, of which over 85per cent came from Pakistan, increased to over $99.12 million from $72.70 million in the corresponding period of the previous year.

Furthermore, China’s imports of cotton yarn increased to over $65.78 million compared to $26.28 million during the same period last year.

SajjadMazahir, General Manager-China, Keywin Trading, opines, China's growing demand for Pakistan's cotton textiles can be attributed to the industry's ability to balance both exports and local downstream orders.

Cotton holds significant importance as a cash crop in Pakistan, with the country ranking among the top cotton-producing nations globally. Pakistan is now a key supplier of Griege fabric, cotton, and cotton yarns, prized for their competitive pricing and high quality. However, there is still scope for Pakistan to diversify its textile exports.

In recent years, Pakistan's textile products have gained importance not only in international exports but also in China's domestic market. Despite challenges such as the high cost of power and sluggish global demand, the Chinese market offerssufficient opportunities for Pakistani exporters.

Emphasising on the importance of diversification, Mazahirurged Pakistan to focus on providing finished products to the local Chinese market and leverage the advantages of the Pakistan-China Free Trade Agreement (FTA). While many products are covered under the zero-duty structure, some, such as home textiles, towels, and apparel, still face challenges in gaining significant volume in the Chinese markets.

 
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