Pakistan’s Textile Exports Down 14% in 10 Months of FY23

Industry

The country’s textile group exports declined by 14.22 percent during the first 10 months (July-April) of the current fiscal year 2022-23 (FY23) and stood at $13.709 billion as compared to $15.981 billion during the same period of last year, the Pakistan Bureau of Statistics (PBS) said.

The data of exports and imports released by PBS revealed that the country’s textile group exports witnessed a decline of 29.11 percent in April 2023 on a year-on-year basis and stood at $1.232 billion when compared to $1.739 billion during the same month of last year.

On a month-on-month (MoM) basis, the textile group registered 1.99 percent negative growth compared to $1.257 billion in March 2023. Cotton yarn exports registered 36.71 percent negative growth in July-April and stood at $636.831 million compared to $1.006 billion during the same period of the last year. On a year-on-year basis, cotton yarn exports registered 34.72 percent negative growth, while on a MoM basis, they registered 6.35 percent negative growth.

Rice exports declined by 11.17 percent during the first ten months of 2022-23 and stood at $1.822 billion compared to $2.052 billion during the same period of the last fiscal year.

The country’s overall exports during July–April FY23 stood at $23.181 billion (provisional) against $26.247 billion during the corresponding period of last year, showing a decrease of 11.68 percent. The exports in April 2023 were $2.137 billion (provisional) as compared to $2.372 billion in March 2023 showing a decrease of 9.91 percent and 26.23 percent as compared to $2.897 billion in April 2022.

The main commodities of exports during April 2023 were knitwear (Rs. 91,685 million), readymade garments (Rs. 70,504 million), bedwear (Rs. 62,129 million), rice others (Rs. 45,153 million), cotton cloth (Rs. 41,799 million), towels (Rs. 22,679 million), rice basmati (Rs. 18,634 million), cotton yarn (Rs. 18,165 million), fish and fish preparations (Rs. 14,547 million), and madeup articles (excl. towels and bedwear) (Rs. 14,344 million).

Source: Pro Pakistani