ISLAMABAD: 2024 marked a remarkable recovery for Pakistan’s textile industry, with exports growing by $1.3 billion compared to the previous year, signaling a turnaround after years of decline.
In the first eleven months of 2024, Pakistan’s textile exports reached $16 billion, up from the previous year’s total. This surge has been welcomed by industry stakeholders, particularly in Faisalabad, a key hub for textile production.
Industry Leaders Celebrate Growth
Rehan Naseem Bhara, President of the Faisalabad Chamber of Commerce, described the increase as a significant milestone for the sector. Despite challenges such as rising electricity costs, the export of knitwear alone contributed $570 million, while ready-made garments saw a substantial increase, reaching $55 billion.
Exporter Wahid Khalik Ramay attributed this growth to a stable dollar value and effective control of raw material prices, which led to a reduction in fabric costs and enhanced the competitiveness of Pakistan’s textile products in international markets.
A Positive Outlook
The recovery of the textile industry in 2024 has reignited optimism within the sector, with many viewing it as a step toward sustained growth and stability. The rise in exports supports the economy and boosts confidence among exporters navigating global markets.
