World Textile Trade

According to WTO’s ‘International trade statistics 2007’ report, world textile trade stood at $219 billion and world clothing trade at $311 billion out of the total world trade of $11783 billion. The textile and clothing trade of $540 billion accounts for about 4.5 % of the total world trade. The ratio between clothing and textiles was about 60:40 with clothing growth of 12 % and textile growth of 7% and a combined growth of 9.5%. Assuming an annual average growth of 9.5%, the current textile & clothing trade may be estimated to be around $635 billion. Pakistan’s textile and clothing exports are estimated around $11 billion which account for approx. 2.1% of the total world textile & clothing trade despite about 9.5% share in world cotton production.

US$170–200 million boost for India’s technical textiles industry

Prompted by the Prime Minister, the Indian Government is set to approve plans to fund the development of its technical textiles industry. Over the next five years, as much as $170–200 million will be provided, reports Reena Mital.


http://www.technical-textiles.net/htm/p20080327.735926.htm

Looming US Economic Recession and Pakistani Textile Exports

“If America sneezes, everyone catches cold” has been an economic adage for some decades. This is because America accounts for 17% of global imports and 28% of the world economy. With American consumers cutting back on spending because of the looming economic recession, the fear is that who is going to buy things which the rest of the world hopes to be bought by the US consumers. About one fourth of total Pakistani exports are to the United States. About 63% of Pakistan’s exports comprise textile and clothing. Given these facts, it is imperative that Pakistan diversifies its export markets with less reliance on the US. Pakistan should seek to increase its exports share in the rich countries of EU, Middle East and Asia Pacific.