Pakistan’s Textile Exports Slump 5% in April to 12-Month Low

Pakistan’s textile exports declined by 4.84 percent in April 2024 and stood at $1.237 billion compared to exports of $1.300 billion reported in the previous month i.e. March 2024, according to data issued by the Pakistan Bureau of Statistics (PBS). On a month-on-month basis, textile group exports witnessed an increase of 0.37 percent in April 2024 compared to $1.232 billion during the same month of FY23. The textile exports during April 2024 are the lowest since exports of $1.232 billion reported in April 2023 i.e. a 12-month low. The country’s textile group exports declined by around 0.19 percent during the first 10 months (July-April) of the current fiscal year 2023-24 (FY24) and stood at $13.683 billion as compared to $13.709 billion during the same period of last year. The data on exports and imports released by PBS revealed that the country’s exports during 10MFY24 stood at $25.279 billion (provisional) against $23.171 billion during the corresponding period of last year, showing an increase of 9.10 percent. Cotton yarn exports registered 32.83 percent growth in July-April and stood at $845.923 million compared to $636.832 million during the same period of the last year. On a year-on-year basis, cotton yarn exports registered 15.11 percent negative growth, while on a MoM basis, they registered 24.40 percent growth. According to the provisional figures compiled by the Pakistan Bureau of Statistics, exports in April 2024 were $2.352 billion (provisional) as compared to $2.567 billion in March 2024 showing a decrease of 8.38 percent over March 2024 but increased by 10.16 percent compared to $2.135 billion in April 2023. The main commodities of exports during April 2024 were Knitwear (Rs. 90,772 million), Readymade garments (Rs. 81,020 million), Rice others (Rs. 76,438 million), Bed wear (Rs. 56,332 million), Cotton Cloth (Rs. 37,556 million), Towels (Rs. 22,459 million), Rice basmati (Rs. 21,378 million), Cotton yarn (Rs. 15,052 million), Madeup articles (excl towels & bedwear) (Rs. 14,843 million) and Fish and fish preparations (Rs. 12,123 million).