During the fiscal year 2023-24, Pakistan’s textile group exports saw a modest increase of approximately 0.93%, reaching $16.655 billion compared to $16.501 billion in the previous year, according to the Pakistan Bureau of Statistics (PBS). Overall, the country’s exports for the fiscal year totaled $30.677 billion (provisional), marking a notable 10.65% increase from $27.724 billion in the previous fiscal year.
However, textile group exports experienced a decline in June 2024, dropping 3.91% year-on-year to $1.414 billion from $1.471 billion in June 2023. On a month-on-month basis, textile exports fell by 9.23% compared to $1.558 billion in May 2024. In contrast, cotton yarn exports grew by 13.17% during the fiscal year, amounting to $955.510 million, up from $844.283 million in the previous year. Provisional figures for June 2024 show a decrease in total exports to $2,560 million from $2,839 million in May 2024, reflecting a 9.83% decline. However, this was an 8.66% increase compared to $2,356 million in June 2023.
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Rice exports achieved a significant milestone in 2023-24, reaching 6.018 million tons compared to 3.718 million tons in the previous year, an increase of 82.94%. The export value of rice surged to $3.931 billion, up from $2.149 billion in the previous fiscal year. Key export commodities in June 2024 included knitwear (Rs. 119,053 million), readymade garments (Rs. 90,445 million), bed wear (Rs. 65,290 million), and various types of rice, among others.
