The Pakistan Bureau of Statistics (PBS) recently released data indicating Pakistan’s earnings from textile product exports during the initial eight months of the current fiscal year (2023-24). According to the report, Pakistan garnered $11,145.661 million from textile exports during this period.
This figure marks a slight decrease of 0.65 percent when compared to the earnings of $11,218.644 million from the same period in the previous fiscal year (2022-23).
The report highlights both positive and negative trends within the textile industry. Notably, certain textile commodities experienced significant growth in export.
For instance, exports of raw cotton saw a remarkable surge of 353.78 percent, soaring from $12.286 million in the previous year to $55.752 million in the current year. Similarly, cotton yarn exports witnessed a substantial increase of 48.18 percent, climbing from $505.015 million to $748.307 million.
Towel exports grew by 3.64 percent, reaching $690.745 million from $666.497 million, and bed wear exports rose by 2.08 percent, reaching $1,873.008 million from $1,834.903 million.
Amidst these positive trends, some textile products experienced a decline in exports. For instance, cotton cloth exports decreased by 8.71 percent, dropping from $1,380.075 million to $1,259.897 million. Similarly, cotton carded or combed exports declined by 32.55 percent, from $0.970 million to $0.654 million.
Other products that faced negative growth include non-cotton yarn (down 18.06 percent), knitwear (down 5.69 percent), tents, canvas, and tarpaulin (down 10.72 percent), and ready-made garments (down 2.99 percent).
These figures suggest fluctuations in Pakistan’s textile export industry, reflecting various factors influencing trade dynamics in the sector. Despite the challenges, the industry continues to play a vital role in Pakistan’s economy, and stakeholders are closely monitoring these trends to make informed decisions for future growth and development.
