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Pakistan's textile machinery market has great potential for development

Views: 0     Author: Site Editor     Publish Time: 2023-07-03      Origin: Site

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Pakistan's textile machinery market has great potential for development

1-Pakistan is an important textile export market in Asia and globally

Textile machinery, refers to the application in the various aspects of the textile process, the natural or chemical fiber processing into textiles required for a variety of mechanical equipment, in the upstream of the textile industry. By 2022, the global textile market size reached 7.8 trillion yuan, and is expected to maintain an average annual compound growth rate of more than 4% in the next five years, is expected to break through to more than 9.4 trillion yuan in 2027. In this context, textile machinery as the core equipment in the textile manufacturing chain, its market has also shown a good development trend.

 

Pakistan, is a traditional textile country. According to the data released by Pakistan's National Bureau of Statistics, in fiscal year 2022 (July 2021 - June 30, 2022), Pakistan's society-wide nominal GDP rose to 66.95 trillion rupees (about 382.83 billion U.S. dollars), up 6.2% year-on-year, and per capita GDP also rose to about 1,686 U.S. dollars; among them, the textile industry in the country's GDP The textile industry accounts for 8.5% of the country's GDP and 46% of the overall manufacturing sector. In addition, Pakistan is an important export market for textiles in Asia and the world.

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2-The textile industry plays an important role in the national economy of Pakistan

  According to the data released by Pakistan Customs, in FY2022, Pakistan's total exports of textiles reached $19.32 billion, an increase of 25.3% over the previous fiscal year, and even more in Pakistan's total exports of goods accounted for nearly 61% of the proportion. In general, the textile industry occupies an important position in Pakistan's national economy, the development potential of the textile machinery market is huge.

 

3-Pakistan textile machinery industry market status and the feasibility of overseas enterprises to enter

According to the "2023 Pakistan Textile Machinery Industry Market Status and Feasibility Study Report on Overseas Enterprise Entry" released by the NewSIQ Industry Research Center, Pakistan's textile industry chain is relatively complete, with more than 2,000 cotton tying, spinning and textile factories, but textile manufacturing is still at the stage of rough processing, and the production efficiency is relatively low, which largely affects the competitiveness of textiles in the international market. Therefore, in order to improve product quality and enhance production efficiency, Pakistan gradually increases the application of textile machinery, but due to the relatively weak level of domestic industrial manufacturing, Pakistan's textile machinery market still relies on overseas imports, which also creates opportunities for Chinese textile machinery manufacturers to enter its market.

 

Xin Sijie Pakistan market analysts said, in order to improve the quality of textile products, improve production efficiency, Pakistan's textile machinery market is developing rapidly, but due to the impact of technology and equipment, the market still has a greater dependence on imports.  The products involved include knitting machinery, dyeing machinery, weaving machinery, spinning machinery, chemical fiber machinery, nonwoven machinery, etc. The opportunities for Chinese textile machinery manufacturers to enter its market are relatively large.


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