Textile exports earn $11.145 billion for Pakistan in 8 months

Islamabad: Pakistan earned $11,145.661 million from exports of textile products during the first eight months of the current financial year (2023-24), the Pakistan Bureau of Statistics (PBS) reported here on Saturday.

The exports of the textile product, however, witnessed a nominal decline of 0.65 percent during July-February (2023-24) when compared to the exports of $ 11,218.644 million during July-February (2022-23).

The textile commodities that witnessed positive trade growth included raw cotton, the exports of which grew by 353.78 percent, from $12.286 million last year to $55.752 million this year.

Likewise, the exports of cotton yarn increased by 48.18 percent, from $ 505.015 million last year to $ 748.307 million this year and towels by 3.64 percent, from $ 666.497 million to $ 690.745 million.

The export of bed wear also surged by 2.08 percent from 1,834.903 million to 1,873.008 million.

The textile commodities that witnessed negative growth include cotton cloth, exports of which declined by 8.71 percent, from $1,380.075 million to $1,259.897 million; cotton carded or combed by 32.55 percent, from $0.970 million to $0.654 million; yarn other than cotton yarn by 18.06 percent, from $29.562 million to $24.224 million, and knitwear by 5.69 percent, from $ 3,078.882 million to $ 2,903.541 million.

Likewise, the exports of tents, canvas and tarpaulin by 10.72 percent, from $86.332 million to $77.080 million, ready-made garments by 2.99 percent, from$ 2,380.837 million to $ 2,309.663 million.

The exports of art, silk and synthetic textiles also decreased by 10.88 percent declining from $273.080 million to $243.361 million, made up articles by 1.62 percent, from $484.765 million to $476.921 million whereas the exports of all other textile materials also went down by 0.60 percent, from $485.440 million to $482.508 million.

Meanwhile, on a year–on–year basis, the textile exports increased by 19.20 percent going up from $ 1,180.445 million in February 2023 to $ 1,407.111 million in February 2024.

On a month-on-month basis, the textile exports however decreased by 3.31 percent when compared to exports of $ 1,455.300 million in January 2024.