China’s cotton yarn exports up 66%

BEIJING:

Pakistan’s cotton yarn exports to China reached $166.37 million, an increase of 65.85%, in the first quarter of 2024, according to statistics from the General Administration of Customs of the People’s Republic of China (GACC).

In the first quarter (January-March) of the current calendar year, imports of “uncombed plain cotton yarn containing 85% or more” (commodity code 52051200) from Pakistan exceeded $99.12 million, compared to $72.70 million dollars in the same period of the previous year.

Accordingly, imports of cotton yarn (commodity code 52051100) stood at $65.78 million, against $26.28 million in the corresponding period of the previous year.

China Operations General Manager of Keywin Trading Ltd, Sajjad Mazahir, told China Economic Net that China’s growing demand for Pakistan’s cotton textiles came about because the Chinese industry balanced both exports and local downstream orders. A few years ago, Pakistan’s textile products were in demand only for exports, but now it has got a good market share in China’s domestic market as well.

Currently, Pakistan’s supplies include cotton, cotton yarn and Griege cloth. They are preferred by many customers because of their competitive prices and quality. However, Pakistan needs to do a lot to diversify its textile exports. “The textile industry in Pakistan is facing challenges from high electricity costs and slow global demand, and the Chinese market gives Pakistani exporters many opportunities,” he added.

Mazahir said that for diversification, Pakistan needed to provide finished products to the local Chinese market and a lot of effort was required to take advantage of the Pakistan-China Free Trade Agreement (FTA).

“Although most of our products are covered by the zero duty structure, many cannot enter the Chinese markets in good volumes, such as home textiles, towels, clothes, etc.,” he added. This article originally appeared on China Economic Net

Published in The Express Tribune, May 12^u2024.

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