Karachi, November 17, 2024 – Pakistan’s knitwear exports have witnessed an impressive growth of 19% during the first four months (July to October) of the current fiscal year 2024-25, according to the latest data released by the Pakistan Bureau of Statistics (PBS).
Knitwear exports rose to $1.76 billion in the July–October period, up from $1.48 billion in the corresponding period last year. This significant increase highlights the resilience and growth potential of Pakistan’s textile sector despite global economic challenges.
It is noteworthy that knitwear exports represent the largest share of the country’s textile exports, underscoring their critical role in Pakistan’s overall export performance. The textile sector, as a whole, posted a 10.44% increase in exports during the same period, reaching $6.15 billion compared to $5.57 billion in the previous year.
The strong performance of knitwear exports is complemented by substantial growth in other textile categories. For instance, readymade garments, the second-largest contributor to textile exports, recorded a 25.4% rise, reaching $1.36 billion during July–October FY25, up from $1.08 billion in the same period of FY24.
Similarly, bedwear exports also demonstrated robust growth, increasing by 13.17% to $1.07 billion, compared to $945 million in the corresponding months of the previous fiscal year. This reflects the diversified strength of Pakistan’s textile portfolio, which continues to attract global buyers.
Experts attribute the rise in knitwear exports to several factors, including improved compliance with international quality standards, expanded production capacity, and increased demand for winter apparel in key markets such as the United States and Europe. Enhanced government incentives for exporters and relatively stable energy supplies have further supported the sector.
However, challenges remain. The export sector is still vulnerable to fluctuations in global demand, rising input costs, and currency volatility. Analysts suggest that continued policy support and infrastructural improvements will be vital to sustaining the upward trajectory of knitwear exports and the broader textile industry.
Pakistan’s overall economic health is significantly influenced by its export performance, with knitwear exports playing a pivotal role. As the fiscal year progresses, the government and industry stakeholders will need to focus on further strengthening this key sector to maintain its momentum and boost the country’s foreign exchange reserves.
