By Raza Khan ISLAMABAD, Nov 11 (INP-WealthPK): Pakistan’s textile sector continued to post major growth in exports, sending US$1.619 billion worth of goods to foreign countries in October 2021 compared to US$1.290 billion in the corresponding month of the last year, registering an increase of 26%. The volume of exports in October also registered a growth of 9% compared to the preceding month of September when exports of textile remained at US$1.487 billion, revealed the data released by the All Pakistan Textile Mills Association (APTMA). Textile exports also increased to an all-time high of US$6.04 billion in the first four months (July-October) of the current fiscal year (2021-22). This shows a surge of 27% compared to a volume of US$4.761 billion in the same period of last fiscal. The data shows that textile exports also registered a 25% increase in September this year compared to the same month of last fiscal year. Exports were recorded at US$1.487 billion in September 2021 against US$1.190 billion in the same month of last year. A surge of 28% was recorded in textile exports during the first quarter (July-September) of the current fiscal year compared to the same period of last year. Exports in the first quarter were US$4.437 billion against US$3.479 billion during the first quarter of last year. Main commodities exported by Pakistan during the July-September period were knitwear (US$1.18bn), readymade garments (US$861m), bedwear (US$803m), cotton yarn (US$289m), towels (US$241m) and other textile materials (US$185m). Source: APTMA Major importers of Pakistan’s textile products are the US, the UK, Saudi Arabia, UAE, Canada, China and the European Union. APTMA, which represents over 400 textile mills in the country, says that Pakistan’s textile sector is booming during the current fiscal year because of the government’s favourable policies and surge in demand in the international market. It is noteworthy here that the government in the last budget had reduced duties and taxes on imports of several raw materials to bring down the input cost of exportable products. Meanwhile, data released by the Pakistan Cotton Ginners Association (PCGA) shows that the arrival of cotton from farms to factories has increased by 102%. Over 3.846 million bales of cotton had arrived in local markets by October 1 compared to 1.907 million bales against the same time period the previous year. The increase in cotton bales helped produce more value-added textile products. APTMA expects that it will be able to achieve the textile exports target of US$21 billion during the current fiscal year. “Based on the assumption that the government’s policies will remain supportive of the industry, Pakistan can meet textile sector export target,” the APTMA said. Abdul Razak Dawood, Advisor to Prime Minister on Commerce and Textile, had said in a statement recently that an investment of approximately US$5 billion was in the pipeline, which will help establish 100 new textile units in the country. According to Mr Dawood, additional textile units would create about half a million jobs apart from enhancing the export capacity of the sector. APTMA is hopeful that the establishment of 100 new textile units would make an increase of US$10 billion to US$20 billion in textile exports apart from creating jobs.