What Is The Contribution Of The Cotton Industry And The Textile Industry To The Economy Of Pakistan?
Even in this age of technology and industrialization, many developing countries still depend heavily on their agricultural produce to support the economy. For instance, Pakistan, which is an agrarian economy relies a great deal on its cotton and textile industry. About two-thirds of the country’s exports are contributed by the textile sector. The monetary figures of this contribution averages to about 7.3 billion dollars. Moreover cotton lint, cloth, garments and also cotton yarn constitute about 6 percent of Pakistan’s Gross Domestic Product. Despite of the growing scope and grasp of industrialization over the world’s most powerful economies, the importance of agriculture still has not faded. In lieu, with the help of modern advancements in technology the agricultural yield has improved more than ever for developed countries. In terms of cotton production, about eighty countries produce cotton for fibre purposes. However there is a huge demand for cotton seeds as food for livestock an
