Cotton yarn exports to China cross $100m
Pakistan’s cotton yarn exports to China have surpassed the $100 million mark in the first two months of 2024. Experts believe Pakistan’s cotton yarn exports to the world will further enhance this year due to a good yield.
According to the General Administration of Customs of the People’s Republic of China, China imported more than $100.98 million worth of cotton yarn from Pakistan in the first two months of 2024, which rose around 98% as compared to the same period last year.
Exports of uncombed single cotton yarn crossed $57.77 million in January and February of 2024. Pakistan is the second largest exporter after Vietnam in this category of cotton yarn this year. Data showed that exports of uncombed single cotton yarn crossed $41.95 million in the first two months of 2024, while in the same period last year it was $14.54 million.
Central Cotton Research Institute Multan’s Transfer of Technology Department Head Sajid Mahmood said that Pakistan-China yarn business underscores a pivotal opportunity for the former to diversify exports beyond predominantly Siro Yarns into other high-quality variants like cotton, carded, and combed yarns, with enhanced competitiveness in the Chinese market.
“Despite benefiting from a free trade agreement with China, Pakistan faces stiff competition from India, especially in non-Siro yarns, though India pays a 3.5% higher duty. Additionally, Vietnam poses a challenge with similar duty-free privileges,” he said.
This article originally appeared on China Economic Net
Published in The Express Tribune, April 3rd, 2024.
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