The study based on data from Fibre2Fashion’s market insight tool TexPro revealed that electricity rates in Turkiye were noted at $0.23 per kWh in 2022 which came down to $0.18 per kWh in this year. This was still higher in comparison to other textile exporting countries like Bangladesh, China, India, Pakistan and Sri Lanka.
Pakistan's textile industry is also grappling with expensive electricity. This year, the industry's electricity rates were recorded at $0.16 per kWh, showing a decrease from last year's rate of $0.19 per kWh.
This year, electricity rates in China and Bangladesh decreased to $0.09 per kWh, down from last year's $0.11 per kWh. This lower electricity cost provides the textile industries in both countries with a competitive edge in the global market.
Last year, Sri Lanka's industry benefited from the lowest electricity rate, with industrial electricity available at $0.07 per kWh. However, this rate increased to $0.11 per kWh this year. Similarly, India's industrial electricity rates rose to $0.12 per kWh this year, up from $0.11 per kWh last year, as per TexPro.
ALCHEMPro News Desk (KUL)
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