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Pakistan’s textile exports fell 14% in the first ten months of FY23.

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The country’s textile group exports fell 14.22 percent during the first ten months (July-April) of the current fiscal year 2022-23 (FY23), to $13.709 billion from $15.981 billion in the same period previous year, according to the Pakistan Bureau of Statistics (PBS).

PBS data on exports and imports revealed that the country’s textile group exports fell 29.11 percent year on year in April 2023, standing at $1.232 billion in comparison to $1.739 billion in the same month last year.

The textile group experienced a 1.99 percent negative growth month over month (MoM) compared to $1.257 billion in March 2023. Cotton yarn exports fell 36.71 percent from July to April, totaling $636.831 million, compared to $1.006 billion in the same time last year. Cotton yarn exports decreased by 34.72 percent year on year, while they increased by 6.35 percent month on month.

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Rice exports fell 11.17 percent in the first ten months of 2022-23, totaling $1.822 billion, compared to $2.052 billion in the same period the previous fiscal year.

Overall exports in the country were $23.181 billion (provisional) in July-April FY23, compared to $26.247 billion in the same period last year, an 11.68 percent reduction. Exports in April 2023 were $2.137 billion (provisional) compared to $2.372 billion in March 2023, a 9.91 percent reduction and a 26.23 percent decrease from $2.897 billion in April 2022.

Knitwear (Rs. 91,685 million), readymade garments (Rs. 70,504 million), bedwear (Rs. 62,129 million), rice others (Rs. 45,153 million), cotton cloth (Rs. 41,799 million), towels (Rs. 22,679 million), rice basmati (Rs. 18,634 million), cotton yarn (Rs.