Karachi, October 17, 2024 – Pakistan’s textile exports have experienced a robust surge, growing by 9.51% during the first quarter of the fiscal year 2024-25 (July to September) compared to the corresponding period of the previous fiscal year, according to figures released by the Pakistan Bureau of Statistics (PBS) on Thursday.
The textile sector, a cornerstone of Pakistan’s economy, saw its exports rise to $4.52 billion during the first quarter of FY25, compared to $4.13 billion in the same quarter of the previous fiscal year. This upswing reflects the resilience and competitive strength of Pakistan’s textile industry amid global challenges, including fluctuating raw material prices and shifting demand patterns in international markets.
Knitwear remained the leading export category within the textile sector, demonstrating a substantial increase of 14.13%. Knitwear exports reached $1.27 billion in the first quarter of FY25, compared to $1.11 billion in the corresponding period of the last fiscal year. The rising demand for Pakistani knitwear, particularly in key export markets like the United States and Europe, has contributed significantly to this growth.
The exports of readymade garments also recorded a notable leap, surging by 23.17%. Export figures for readymade garments stood at $997 million during the first quarter, compared to $809 million in the same quarter of the previous fiscal year. This substantial increase reflects Pakistan’s growing competitiveness in the global fashion and apparel industry, driven by quality craftsmanship and cost-effective production.
In addition, the bed wear segment, another key component of textile exports, grew by 13.31%, reaching $795 million compared to $702 million during the corresponding period of FY24. The rise in bed wear exports underscores Pakistan’s strong foothold in the global home textiles market, where demand for high-quality and affordable products remains steady.
Moreover, cotton cloth exports increased by 10.2% to $524 million, up from $475 million in the same period last year, while towel exports also saw a moderate rise of 7%, totaling $261 million compared to $244 million in FY24’s first quarter.
Interestingly, PBS data revealed that Pakistan did not export raw cotton or cotton carded/combed during the first quarter of FY25. This suggests a strategic shift towards value-added products, allowing the textile industry to capture higher margins and reduce reliance on the export of raw materials.
The 9.51% increase in textile exports is a testament to Pakistan’s growing capability to diversify its product offerings and meet the evolving demands of the global market. The sector’s performance continues to play a pivotal role in boosting the country’s economic growth and foreign exchange reserves.