by Raza Khan ISLAMABAD, April 14 (INP-WealthPK): Pakistan exported $14.26 billion worth of textile products from July to March in the current fiscal year 21-22, which is the highest ever volume during the first nine months of any year, reports WealthPK. According to the data released by the All Pakistan Textile Mills Associations (APTMA), with an increase of 26%, textile exports rose to $14.26 billion during July-March this year from $11.36 billion in the same months of the last fiscal year (2020-21). In March 2022, exports rose to $1.65 billion as against $1.36 billion during the same month of last year, registering a growth of 21%. In a month-on-month comparison, textile exports declined by 2.4% in March against the preceding month of February 2022. The volume of exports in February was recorded at $1.69 billion. Asad Naqvi, Senior Analyst of APTMA, told WealthPK that textile exports of $14.26 billion in July-March period of 2021-22 were the highest during the first nine months of any fiscal year. “Growth in textile exports is the result of substantial expansion in the textile sector and better pricing of Pakistan’s textile products in the international market,” Naqvi said. However, there is a fear of a slowdown in textile growth in the coming months if the energy shortage causes cuts in production, he added. He said the textile sector was going through expansion and had enhanced its production capacities. “A huge amount of money has been invested in the textile sector following the incentives provided by the government,” he added. Naqvi was of the view that Pakistan would be able to achieve the export target of $21 billion. “If the industry receives the full support of the government, uninterrupted energy supply at competitive tariffs and raw material, the target is still achievable,” he added. Naqvi said the textile industry contributed more than 60% to the country’s exports and was a major source of employment. According to data, textile exports in each month of the current fiscal year surpassed exports in the corresponding month of last fiscal year. The highest textile exports during any month of the current fiscal year were recorded at $1.74 billion in November. The government has set a $21 billion export target for the current fiscal year. According to the Textile and Apparel Policy 2020-25, exports will be enhanced to $27 billion in the fiscal year 2022-23, to $34 billion in 2023-24, and to $42 billion in 2024-25. According to the Pakistan Bureau of Statistics (PBS), Pakistan’s total goods’ exports increased by 24.67% from July-March in the current fiscal year. The export volume rose to $23.298 billion during the period under review from $18.687 billion in the same months of the last fiscal year. Total exports in March this year were recorded at $2.74 billion as against $2.364 billion in the same month of 2020-21, registering an increase of 15.91%. According to the Board of Investment, Pakistan is the 8th largest exporter of textile products in Asia. It is also the 4th largest producer and 3rd largest consumer of cotton. Textile comprises 46% of the total manufacturing sector and provides employment to 40% of the total labour force.