Pakistan’s Textile Exports Remain Flat in FY24

The country’s textile group exports increased by around 0.93 percent during the fiscal year 2023-24 and remained at $16.655 billion as compared to $16.501 billion in 2022-23, the Pakistan Bureau of Statistics (PBS) said. The data of exports and imports released by PBS revealed that the country’s exports in fiscal year 2023-2024 totaled $30.677 billion (provisional) against $ 27.724 billion during the corresponding period of last year showing an increase of 10.65 percent. Textile group exports witnessed a decrease of 3.91 percent in June 2024 on a year-on-year basis and remained at $1.414 billion when compared to $1.471 billion during the same month of last year. On a month-on-month (MoM) basis, the textile group registered 9.23 percent negative growth compared to $1.558 billion in May 2024. Cotton yarn exports registered 13.17 percent growth in fiscal year 2023-24 and remained $955.510 million compared to $844.283 million during the same period of the last year. According to the provisional figures compiled by the Pakistan Bureau of Statistics, exports in June 2024 were in June, 2024 were $ 2,560 million (provisional) as compared to $ 2,839 million in May, 2024 showing a decrease of 9.83% over May, 2024 but increased by 8.66% as compared to $ 2,356 million in June, 2023. Pakistan rice exports in 2023-24 reached a milestone. During July-June rice exports touched to 6.018 million tons. In the same period last year, it was around 3.718 million tons. Rice exports record an increase of 82.94 percent. Rice exports fetched $3.931 billion, during 2023-24 compared to $2.149 billion during the same period of last fiscal year. Main commodities of exports during June, 2024 were Knitwear (Rs. 119,053 million), Readymade garments (Rs. 90,445 million), Bed wear (Rs. 65,290 million), Rice others (Rs. 55,876 million), Cotton Cloth (Rs. 37,626 million), Rice Basmati (Rs. 28,705 million), Towels (Rs. 24,272 million), Madeup articles (excl towels & bedwear) (Rs. 16,598 million), Fruits (Rs. 13,571 million) and Cotton yarn (Rs. 12,618 million).