Pakistan’s Textile exports drops 12% in first nine months of FY23

According to the Pakistan Bureau of Statistics (PBS), the country’s textile group exports fell by around 12.40 percent (or $1.766 billion) during the first nine months (July-March) of the current fiscal year 2022-23 (FY23), to $12.476 billion from $14.242 billion during the same period last year.

According to PBS data on exports and imports, the country’s textile group exports fell 22.61 percent year on year in March 2023, standing at $1.257 billion compared to $1.625 billion in the same month last year.

Month over month (MoM), the textile group increased by 6.55 percent to $1.180 billion in February 2023.

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Cotton yarn exports fell 36.92 percent from July to March, remaining at $573.084 million compared to $908.487 million during the same period last year.

Cotton yarn exports decreased by 26.32 percent year on year, but increased by 22.43 percent month on month.

Rice exports fell 10.79 percent in the first nine months of FY23, totaling $1.598 billion versus $1.791 billion in the same period last year.

Exports

The country’s total exports during July-March FY23 were $21.051 billion (provisional) compared to $23.350 billion during the same period last year, representing a 9.85 percent decrease.

Exports in March 2023 were $2.372 million (provisional) compared to $2.191 billion in February 2023, an 8.26 percent increase, but a 14.58 percent decrease compared to $2.777 billion in March 2022.

Knitwear (Rs. 87,269 million), Readymade garments (Rs. 77,456 million), Bed wear (Rs. 55,154 million), Rice Others (Rs. 48,799 million), Cotton Cloth (Rs. 44,260 million), Towels (Rs. 22,077 million), Rice basmati (Rs.