“Pakistan’s textiles and apparel exports, at $10.6bn in 2006, grew to only 12.8bn by 2015, a growth rate of 2.1% .Bangladesh’s textiles and apparel exports grew from $9.9bn in 2006 to $28.3bn in 2015, a growth rate of 12.3%”~ @WorldBank “modernizing trade in Pakistan: A Policy Roadmap”
“Because of its slow growth in the industry, Pakistan is losing ground to its competitors. In 2006, Pakistan was exporting more textiles and apparel than Bangladesh and Vietnam. By 2015, both Bangladesh and Vietnam had surpassed Pakistan.”
“The difference between Pakistan and its competitors is magnified when focusing on the apparel industry specifically. Bangladesh’s apparel exports grew from $8.25bn in 2006 to $26.53bn in 2015, an annual growth rate of nearly 14 %.”
“By contrast, Pakistan’s apparel industry grew from $3.25bn in 2006 to only $4.5bn in 2015, a growth rate of 3.6%. At such a low growth rate, Pakistan’s apparel industry is being overwhelmed by Vietnam (16.5%) and Bangladesh (13.9%).”
“Some 84% of Pakistan’s apparel exports are also cotton-based. In comparison, cotton apparel accounted for only 46% of global apparel exports. Globally, the market has been shifting toward apparel made of synthetic materials.”
“Global textile and apparel trade grew at a compound annual growth rate of 3.6% between 2005 and 2017 to reach a value of approximately $780bn in 2017. Apparel accounts for nearly 60% of global textiles and apparel trade by value.”
“All told, Pakistan’s textiles and apparel sectors directly employ roughly 2.5mn people. Textiles and apparel accounted for 60.5% of Pakistan’s exports in 2017 & an average of 55% of Pakistan’s exports over the past decade.”
In 2017, the world value of apparel trade alone was approximately $464bn. Although there has been some fluctuation in the value of global exports, the apparel industry’s growth rates for the seven years between 2010 & 2017 was 4.2%.”
