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The textile industry is Pakistan's largest manufacturing sector, employing nearly 25 million people. [1] [2] As the eighth largest exporter of textile commodities in Asia, the industry contributes 8.5% to the country's Gross domestic product. [3] It accounts for about 45% of the total labor force and 38% of manufacturing workers.
The cotton and textile industries play a dominant role in exports; [14] cotton accounts for 55 percent of the country's export earnings, and Pakistan has a 14% share of the world's cloth exports. [2] The European Union (EU) granted Generalized System of Preferences "Plus" status to Pakistan in 2013, which has promoted textile exports to the EU. [9]
Pakistan's industrial sector (in FY21) accounts for 28.11% of the GDP. Of this, manufacturing makes up 12.52%, mining constitutes 2.18%, construction makes up 2.05%, and electricity and gas 1.36%. The majority of industry is made up of textile units, with textiles contributing $15.4b to exports, making up 56% of total exports.
Mudassir and Brothers Limited commenced processes to establish a textile manufacturing company worth over $50 million [4] in Kano State in 2019 to complement the policy of the Federal Government of Nigeria that was encouraging local production of qualitative goods to create wealth and job opportunities for 10,000 youths in Nigeria.
Masood Textile Mills was founded in 1984. In 2014 it posted a pre-tax profit of Rs 1.1 billion, which was 13% higher than its pre-tax earnings in the preceding year. Shanghai Challenge Textile Company acquired 24.3% shares in Masood Textile Mills in a privately negotiated deal. [2] [3] It later acquired 52% stake of the company. [4]
The All Pakistan Textile Mills Association (APTMA) is an association for Textile industry in Pakistan.APTMA represents over 400 textile mills in Pakistan. [2]The textile industry is Pakistan's largest industry and textile is the most important export of Pakistan. [3]
Sapphire Textile Mills Limited, also known as Sapphire Group, is a Pakistani vertically integrated textile manufacturer, producing cotton yarn, fabric, and finished garments. [2] It is based in Lahore , Pakistan.
According to the Economic complexity index, Pakistan is the 67th largest export economy in the world and the 106th most complex economy. [10] During the fiscal year 2015–16, Pakistan's exports stood at US$20.81 billion and imports at US$44.76 billion, resulting in a negative trade balance of US$23.96 billion. [11]