Pakistan earns $11.15 billion from textile exports in eight months

WEB DESK: Pakistan’s textile sector continues to demonstrate resilience in the face of challenges, as evidenced by the recent report from the Pakistan Bureau of Statistics (PBS).

According to the latest data released on Saturday, Pakistan earned $11,145.661 million from textile exports during the first eight months of the current financial year (2023–24).

While the overall figures are impressive, the report notes a marginal decline of 0.65 per cent in textile exports during the period of July–February (2023–24) compared to the same period last year.

In the corresponding months of the previous financial year (2022–23), textile exports stood at $11,218.644 million.

A deeper analysis reveals a mixed bag of performances across different textile commodities. Notably, some sectors experienced robust growth, while others faced setbacks.

Among the success stories, raw cotton exports witnessed an extraordinary surge, soaring by 353.78 per cent from $12.286 million to $55.752 million.

Similarly, cotton yarn exports increased by 48.18 per cent, climbing from $505.015 million to $748.307 million, and towel exports saw a modest rise of 3.64 per cent, from $666.497 million to $690.745 million.

Bed wear exports also surged by 2.08 per cent, from $1,834.903 million to $1,873.008 million.

However, some segments of the textile industry experienced declines. For instance, cotton cloth exports dropped by 8.71 per cent, from $1,380.075 million to $1,259.897 million, while cotton carded or combed exports plummeted by 32.55 per cent, from $0.970 million to $0.654 million.

Yarn other than cotton yarn also faced an 18.06 per cent decline, falling from $29.562 million to $24.224 million, and knitwear exports decreased by 5.69 per cent, from $3,078.882 million to $2,903.541 million.

Furthermore, exports of tents, canvas, and tarpaulin saw a decrease of 10.72 per cent, from $86.332 million to $77.080 million, and ready-made garments experienced a decline of 2.99 per cent, from $2,380.837 million to $2,309.663 million.

Exports of art, silk, and synthetic textiles also dipped by 10.88 per cent, declining from $273.080 million to $243.361 million.

Similarly, made-up articles registered a decrease of 1.62 per cent, from $484.765 million to $476.921 million, while exports of all other textile materials also went down by 0.60 per cent, from $485.440 million to $482.508 million.

Despite these fluctuations, the overall year-on-year textile exports witnessed a commendable increase of 19.20 per cent, rising from $1,180.445 million in February 2023 to $1,407.111 million in February 2024.

However, on a month-on-month basis, textile exports experienced a slight decline of 3.31 per cent compared to January 2024, when exports totaled $1,455.300 million.

The textile industry remains a cornerstone of Pakistan’s economy, contributing significantly to export earnings and employment generation.

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