The country's textile exports will be declining further during the second quarter of current financial year, which is already on the down side at the end of the first quarter, exporters say
Fast shrinking export orders had created a dent during July-September, but there was no major fall because orders for these exportable products were booked about 4-6 months back, the say.
However, in recent months a major fall in booking orders for textile products has been recorded, which would be having its impact during the second quarter.
The situation could worsen further by the end of November this year as shrinking orders would create real impact at that time, they said, adding that except for yarn, all value- added textile products would record further reduction.
In the first quarter of current financial year, the country's textile exports recorded an eight percent decline. This also included readymade garments. The situation has put in jeopardy the government's efforts to increase textile exports gradually.
The decline in exports, particularly of textiles, has also widened the trade in the first quarter. This is 31.7 percent higher compared with the corresponding period of last year.
The government has announced a textile relief package of Rs 25-30 billion and research & development (R&D) subsidy for the textile sector across the board, but all this has so far not worked to give an impetus to textile export.
According to textile industrialists, the information being received from buyers conveys a bleak picture as most of our exporters are losing their orders to other countries, especially Bangladesh, which is getting most orders from our buyers.
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