As I have learned from my college Term III course, Pakistan-A Cultural Perspective, Pakistan's major exports are cotton fabrics, bedwear, and knitwear, all which can be classified under Pakistan's textile industry.
According to allbusiness.com Pakistan's textile and clothing exports have fallen dramatically within the last eight months. This decline is due to rising raw materials prices, energy crisis, financial costs and the global recession. Cotton yarn, which again is Pakistan's largest export, has fallen at the rate of 15%. This fall in the textile industry has now led to a number of closures and shutdowns.
After becoming aware of how serious the dramatic decline in exports from textiles, as well as the fall in Pakistan's agricultural economy as well, it has come to my attention that this will be a sign for the rest of Pakistan's economy. The fall in their major industries will only lead to larger falls in other areas of Pakistan.
I am prediciting that these other falls will lead to some type of politcal/governmental policies that are going to have to be put into place if Pakistan wishes to still strive to be a developing country.
Subscribe to:
Post Comments (Atom)
While I was reading your post I found myself wondering how a counrty like Pakistan responds to such a major hit in one of there few exports. Interesting post and we will see how this effects Pakistan's economy as a whole.
ReplyDelete