Pakistan’s textile exports have maintained a robust trajectory, reaching $13.68 billion during the first ten months (July – April) of the fiscal year 2023-24, according to official data released on Thursday.
While this figure reflects a marginal decline of 0.19 percent compared to the same period in the previous fiscal year, it underscores the resilience of Pakistan’s textile sector amidst global economic fluctuations.
The Pakistan Bureau of Statistics (PBS) reported that despite the slight dip, several textile commodities experienced positive trade growth. Raw cotton exports surged by an impressive 319.91 percent, from $13.357 million last year to $15.944 million this year. Similarly, cotton yarn exports increased by 32.83 percent, rising from $636.832 million to $845.923 million, while bed wear exports saw a 1.82 percent growth, climbing from $2,249.778 million to $2,290.796 million.
The export of towels also witnessed a significant upswing of 4.81 percent, reaching $864.547 million from $824.879 million, and made-up articles rose by 0.67 percent to $589.026 million from $585.102 million.
However, certain textile commodities experienced negative growth during the period under review. Cotton cloth exports declined by 7.53 percent, falling from $1,684.724 million to $1,557.909 million, while cotton carded or combed exports decreased by 15.93 percent, from $0.996 million to $0.837 million. Yarn other than cotton yarn saw a decline of 20.76 percent, dropping from $36.302 million to $28.766 million, and knitwear exports dipped by 3.92 percent, decreasing from $3,712.066 million to $3,566.624 million.
Similarly, exports of tents, canvas, and tarpaulin decreased by 16.52 percent, from $116.959 million to $97.632 million, and ready-made garments saw a slight decrease of 0.57 percent, declining from $2,904.693 million to $2,888.177 million. Additionally, exports of art, silk, and synthetic textiles experienced a decline of 12.08 percent, dropping from $342.917 million to $301.496 million.
Despite these fluctuations, textile exports witnessed a year-on-year increase of 0.37 percent, rising from $1,232.803 million in April 2023 to $1,237.316 million in April 2024. However, on a month-on-month basis, textile exports decreased by 4.84 percent compared to the exports of $1,300.288 million in March 2024.
The performance of Pakistan’s textile sector remains closely watched, given its pivotal role in the country’s economy and its significance as a major contributor to employment and foreign exchange earnings. As the global economic landscape continues to evolve, stakeholders will monitor closely for further developments in Pakistan’s textile export sector.