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Market Dynamics and Trends in Pakistan's Shirts Export Industry
Market Dynamics and Trends in Pakistan's Shirts Export Industry
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COUNTRY'S
OUTLOOK KEY DIMENSIONS
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COUNTRY'S OUTLOOK
C R E D IT E N V I R O N M E N T
Policy rate
Currency is devalued due to current Stabilizing the
increased up to
account deficit. The borrowing costs falling PKR
have risen up due to the tightened 500 bps
monetary policy.
Additionally, Flooding from the
previous year has led to food
inflation. Lastly, Remittance inflows
KEY ISSUES
have fallen down due to rising living
expenses brought on by the global
Food Inflation
economic slump.
However, the central bank increased
Higher borrowing costs
the policy rate up to 500 bps since
November 2022. Also, steps have
Decreased remittance Inflows
been taken to stabilize the falling
PKR (down 30% YTD) and battle
escalating inflationary pressures
Currency Devaluation
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COUNTRY'S OUTLOOK
SU P P L Y E N V I R O N M E N T
Due to the sharp rise in input costs, Phase Two of CPEC opens positive
the persistence of import prospects for Pakistan
restrictions, and the lack of available
credit, large-scale manufacturing
will continue to experience
contraction. Supply chains are being
hampered by insufficient
KEY ISSUES
infrastructure, energy constraints,
and restricted access to funding.
Supply Chains being hampered
However, The start of Phase Two of
the China-Pakistan Economic
Contraction of Large-scale
Corridor (CPEC) opens positive
prospects for Pakistan, providing Manufacturing
chances to stop the country's
economy from contracting, handle
manufacturing-related issues, and
create jobs. https://www.dnbcountryrisk.com
COUNTRY'S OUTLOOK
MARKET ENVIRONMENT
B2B Barter
Pakistan's trade prospects face Trade in Goods
Trade
challenges due to escalating energy Agreement
costs, electricity tariffs, heightened Mechanism
political uncertainty, and strained
relations with India.
However, The Trade in Goods
Agreement between Pakistan and
KEY ISSUES
Turkey granted Pakistan preferential
access to the Turkish markets.
Political Instability
Emergence of Kazakhstan as a
potential market shows the
Rising Energy costs
untapped market cap. Pakistan's
Ministry of Commerce launched the
Hostile relations with trade partners
B2B Barter Trade Mechanism,
fostering trade & reducing reliance
on conventional trade practices.
Electricity Tariffs
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COUNTRY'S OUTLOOK
P O L IT IC AL E N V I R O N M E N T
Massive Support Increased
The Former Prime Minister’s
for a sacked Political
incarceration has led to continued
political unrest that is worsening the Prime Minister Awareness
nation's economic situation. To add
on, with an increase in terrorist
activity spearheaded by the Tehreek-
e-Taliban Pakistan (TTP), the security
KEY ISSUES
situation has also gotten worse.
However, the support of the general
Ouster of Former Prime Minister
public with the former Prime
Minister shows their interest in
Political Unrest
politics and economy which is a sign
of nation’s progress and is important
Increase in Terrorist Activities
for sustainable growth.
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INTRODUCTION TO
SHIRT EXPORTS
THE WORLDWIDE SHIRT EXPORT INDUSTRY IS
CRUCIAL FOR COMMERCE AND FASHION, WITH
PAKISTAN AS A KEY EXPORTER PUTTING AN
EMPHASIS ON ETHICS AND SUSTAINABILITY.
The huge worldwide shirt export market, including T-shirts, are
essential to both trade and fashion. Fashion trends,
manufacturing centers, sustainability, and e-commerce all
influence the sector. It faces difficulties including shifting
consumer tastes and competition, but it also presents
opportunities for development through market diversification
and moral behavior.
Pakistan is one of the industry leaders in clothing exports,
specializing in shirts and T-shirts to satisfy customer demand
throughout the world. Sustainability issues and the adherence
to global standards are further challenges that spur innovation
and business expansion.
BEYOND
BORDERS SHIRT
E XPORTS:
MAPPING THE
FUTURE OF FASHION
DOMINATION
HS CODE:
6109/6105
GLOBAL EXPORTS (T-SHIRTS)
GLOBAL EXPORT
T-SHIRT EXPORTS (6109) ARE (2022)
DOMINATED BY SIGNIFICANT
PLAYERS LIKE CHINA,
BANGLADESH AND GERMANY.
$ 56.64 Billion
Global exports of knitted or crocheted T-
shirts fall under HS Code 6109. China, TOP 3 EXPORTERS
Bangladesh, Germany, Turkey and Vietnam CHINA BANGLADESH GERMANY
are major exporters. USA, Germany and
France are important markets.
Trends in clothing, cost effectiveness, and
trade agreements all have an impact on $9.4 B $9.3 B $2.8 B
exports. Sustainability is becoming more
significant. 16.5% 16.4% 4.9%
T-shirts occupy Eighty-fifth position among Global total MARKET SHARE AS A % OF THE GLOBAL EXPORT
85th export categories
*Source: Trade Foresight
GLOBAL EXPORTS (SHIRTS)
GLOBAL EXPORT
EXPORTS OF SHIRTS UNDER HS (2022)
GLOBAL EXPORT
IMPORTANT IMPORTERS LIKE (2022)
GLOBAL EXPORT
(2022)
USA, GERMANY, AND UK ARE
THE TOP IMPORTERS OF
SHIRTS (HS CODE 6105).
UK $2.61 Bn (5.2%)
UK $0.60 Bn (6.5%)
$5 B
$4 B
$3 B
$2 B
$1 B
$0 B
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
ANALYZING GLOBAL
SHIRT IMPORTS
MONTHLY TRENDS
$1 B
$0.75 B
$0.5 B
$0.25 B
$0 B
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
SARTORIAL
EXCELLENCE:
PAKISTAN'S SHIRTS ON
THE GLOBAL STAGE
HS CODE:
6109/6105
PAKISTAN
EXPORT MARKETS (T-SHIRTS)
EXPORTS WORLDWIDE
T-SHIRTS OF PAKISTAN THRIVE (2022)
$80 M
$60 M
$40 M
$20 M
$0 M
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
PAKISTAN EXPORTS (SHIRTS)
MONTHLY TRENDS
$75 M
$50 M
$25 M
$0 M
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
SWOT ANALYSIS
This certificate attests to the nation where the shirts were made. It
Certificate of could be required for customs clearance and to make a claim for
Origin
trade agreement benefits.
Customs A record including details on the exported products, their price, and
Declaration other customs-related information.
Bill of Lading (B/L) The AWB is used for airfreight, whereas the B/L is utilized for ocean
or Airway Bill cargoes. These records provide crucial shipment information and act
(AWB) as titles of ownership and receipts for goods sent.
MANDATORY
REQUIREMENTS FOR
EXPORT TO KEY MARKETS
Commercial Invoice
Packing list
Certificate of Origin
Bill of Lading (B/L) or Airway Bill (AWB)
Safety and Compliance Documentation Customs U.S. Federal Trade Commission (FTC) Labeling
Importer's EORI Number Declaration Requirements
Importer of Record (IOR) Information
TARIC Code Importer Security Filing (ISF)
Customs Declaration (CBP Form 3461 or 3461 ALT)
CERTIFICATION BODIES ...1/2
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