Pakistan’s Textile Exports Down 11% in 8 Months of FY23

According to data released by the Pakistan Bureau of Statistics (PBS) on Friday, exports of Pakistan’s textile group decreased by 11.09 percent during the first eight months (July–February) of the current fiscal year 2022–23 (FY23), arriving at $11.218 billion as compared to $12.617 billion during the same period last year.

According to data on exports and imports given by PBS, the nation’s exports of textiles decreased by 29.92 percent in February 2023 as compared to the same month in the previous year, falling to $1.180 billion as compared to $1.684 billion.

When compared to $1.321 billion in January 2023, the textile group experienced a negative growth rate of 10.69 percent on a month-over-month (MoM) basis. Exports of cotton yarn experienced a 38.12% decline from July to February, staying at $550,015 million as opposed to $816,102 million during the same time last year.

Cotton yarn exports experienced a 56.65 percent decline on an annual basis while growing 18.09 percent month over month.

(Read Also: Pakistan exported textile products worth $10 billion in 7 months)