Business
Pakistan’s cotton yarn exports to China crosses $100 million in Jan-Feb
The data released by the General Administration of Customs of the People’s Republic of China (GACC) shows that China imported more than $100.98 million worth of cotton yarn from Pakistan in the first two months of 2024.
![Pakistan’s cotton yarn exports to China crosses $100 million in Jan-Feb](/media/101418/conversions/Cotton-April-3-1280x720.webp)
Beijing: 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 export to the world will further enhance this year due to good yield.
According to data released by the General Administration of Customs of the People’s Republic of China (GACC), China imported more than $100.98 million worth of cotton yarn from Pakistan in the first two months of 2024, which increased by around 98% as compared to the last year in the same period.
Uncombed single cotton yarn crossed $57.77 million in January – February of 2024. Pakistan is the second largest exporter after Vietnam in this item of cotton yarn this year. Data further showed that uncombed single cotton yarn crossed $41.95 million in the first two months of 2024, while last year in the same period it was $14.54 million, China Economic Net (CEN) reported.
Sajid Mahmood, Head of the Transfer of Technology Department, Central Cotton Research Institute Multan told China Economic Net that the Pakistan-China yarn business underscores a pivotal opportunity for Pakistan to diversify its 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, despite a 3.5% higher duty for India. Additionally, Vietnam poses a challenge with similar duty-free privileges, although its reliance on imported cotton exposes vulnerability, he said.
-
Pakistan 1 day ago
Pakistan welcomes “Declaration of Unity” by Palestinian factions
-
Pakistan 2 days ago
Free Meal Program to start at Islamabad schools from August 5
-
Pakistan 18 hours ago
Bad weather: Flight operations severely affected in Lahore
-
Regional 2 days ago
Rana Sanaullah lauds UNESCO's role in sports education
-
Pakistan 1 day ago
Imran Khan candidate for chancellorship of Oxford University
-
Weather 1 day ago
Cloudy, sunny weather in Lahore, rain also expected
-
Weather 2 days ago
Weather turns pleasant after rains in Lahore, other cities
-
Business 13 hours ago
Gold price up by Rs1,000 per tola in Pakistan