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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.
Pakistan is the fourth largest cotton producer and holds the third largest spinning capacity in Asia, following China and India, contributing 5% to global spinning capacity. [4] The industry comprises 1,221 ginning units, 442 spinning units, 124 large spinning units, and 425 small units.
The U.S. GM cotton crop was 4.0 million hectares in 2011 the second largest area in the world, the Chinese GM cotton crop was third largest by area with 3.9 million hectares and Pakistan had the fourth largest GM cotton crop area of 2.6 million hectares in 2011. [75]
Cotton textile production is the single most important industry, accounting for about 19 percent of large-scale industrial employment. Cotton yarn, cotton cloth, made-up textiles, ready-made garments, and knitwear collectively accounted for nearly 60 percent of Pakistan's exports in 1999-2000.
In Pakistan, cottage or household industries hold an important position in rural set-up. Most villages are self-sufficient in the basic necessities of life. They have their own carpenters, cobblers, potters, craftsmen and cotton weavers.
Pakistan has also cut the use of dangerous pesticides dramatically. [13] Pakistan is a net food exporter, except in occasional years, when its harvest is adversely affected by droughts. Pakistan exports rice, cotton, fish, fruits (especially Oranges and Mangoes), and vegetables and imports vegetable oil, wheat, pulses and consumer foods.
Pakistan ranks fourth globally in cotton production, with substantial spinning capacity, making it a major exporter of textile products in Asia. [433] China is a significant buyer of Pakistani textiles, importing US$1.527 billion worth of textiles last fiscal year.
In August 2007, Pakistan started exporting cement to India to fill in the shortage there caused by the building boom. [8] Russia is a growing market for Pakistani exporters. In 2009/2010 the export target of Pakistan was US$20 billion. [9] As of April 2015, Pakistan's exports stand at US$29 billion.