Textile sector: RMG exports up, cotton imports down

Textile sector: RMG exports up, cotton imports down

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Some entrepreneurs in the textile sector said that there was a significant decline in foreign purchase orders in the second half of last year, which affected the textile sector. To add to the crisis, shortfall in gas supply severely affected production activities and factories struggled to supply products on time.

On the other hand, there was huge import of cotton last year.

Therefore, against the background of gas shortage, dollar crisis and low purchase orders, a large number of spinning mills did not dare to import a good amount of cotton in the year.

However, entrepreneurs fear that a sudden spurt in purchase orders for RMG products could lead to yarn shortage. Traders are facing difficulties in opening letters of credit (LCs) to import cotton, while the following import process takes up to two months to complete.

The spinning mills produce yarn from the imported cotton, which is then used to make garments.

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