Textile sector exports rise by 3% YoY to $1.3bn in March

Pakistan's textile sector exports increased to $1.3 billion in March, up from $1.26 billion in the same month last year, marking a 3% year-on-year growth.

According to provisional data from the All Pakistan Textile Mills Association (APTMA) this growth represents the fourth consecutive month of year-on-year increases in textile exports.

However, the country's textile exports for the first nine months (July-March) of fiscal year 2023-2024 decreased slightly by 0.3%, totaling $12.44 billion, down from the previous year.

On a month-to-month basis, textile exports fell nearly 8% from $1.41 billion in February.

The country’s overall exports in March 2024 grew by 7.99% to $2.55 billion from $2.36 billion in the same month the previous year, marking a slowdown from the double-digit growth seen in the prior three months.

Imports in March 2024 surged by 25.86% to $4.73 billion from $3.75 billion in March 2023, following the government's easing of import restrictions.

Meanwhile, Pakistan’s trade deficit widened by 56.30% year-on-year (YoY) to $2.171 billion in March 2024, compared to $1.389 billion during the same month of 2023, while increased by 24.56% on a month-on-month (MoM) basis from $1.743 billion in February 2024.