Pakistan’s cotton yarn exports to China exceeded $100 million in the first two months of 2024. Experts anticipate Pakistan’s cotton yarn exports to the globe would increase this year due to a high 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, up almost 98% over the same time previous year.
Exports of uncombed single cotton yarn exceeded $57.77 million in January and February 2024. Pakistan is this year’s second largest exporter of cotton yarn, trailing only Vietnam. Data indicated that exports of uncombed single cotton yarn exceeded $41.95 million in the first two months of 2024, compared to $14.54 million in the same time previous year.
According to Sajid Mahmood, Head of the Transfer of Technology Department at the Central Cotton Research Institute Multan, the Pakistan-China yarn business represents a critical opportunity for the former to diversify exports beyond predominantly Siro Yarns into other high-quality variants such as cotton, carded, and combed yarns, resulting in increased competitiveness in the Chinese market.
“Despite benefiting from a free trade deal with China, Pakistan faces tough competition from India, particularly in non-Siro yarns, despite India paying a 3.5% higher tariff. Furthermore, Vietnam presents a difficulty since it offers similar duty-free advantages,” he added.
Iqra Khan