Textile exports rise 1.41% to $15.2 billion in 11 months of FY2023-24

Exports increased by 18% YoY to $1.558 billion in May

The exports of the textile group increased by 1.41% during the first eleven months of the financial year 2023-24 compared to the same period last year, according to the Pakistan Bureau of Statistics (PBS).

Textile product exports reached $15.2 billion from July to May 2023-24, up from $15,029.794 million in the corresponding months of 2022-23.

In May, textile group exports increased by 18% year-on-year and recorded $1.558 billion, the highest since August 2022, compared to $1.320 billion during the same month of last year. 

Several textile commodities saw positive trade growth. Raw cotton exports grew by 317%, rising from $13.425 million last year to $56.086 million this year. 

Cotton yarn exports increased by 23.47%, from $737.185 million to $910.193 million. Bedwear exports rose by 4.77%, from $2.45 billion to $2.56 billion.

The export of towels also increased by 6.09%, from $912.362 million to $967.936 million, while ready-made garments exports went up by 2.09%, from $3.172 billion to $3.238 billion. 

Exports of made-up articles grew by 3.19%, from $635.424 million to $655.721 million. Exports of all other textile materials slightly increased by 0.26%, from $656.983 million to $658.703 million.

However, some textile commodities witnessed a decline. Cotton cloth exports decreased by 6.91%, from $1,859.390 million to $1,730.834 million. Exports of cotton carded or combed fell by 15.93%, from $0.996 million to $0.837 million. 

Yarn other than cotton yarn dropped by 24.08%, from $40.673 million to $30.878 million, and knitwear exports declined by 1.60%, from $4.04 billion to $3.98 billion. 

Exports of tents, canvas, and tarpaulin fell by 14.59%, from $125.839 million to $107.476 million, and art, silk, and synthetic textiles decreased by 11.43%, from $379.144 million to $355.816 million.

Year-on-year, textile exports increased by 18%, from $1.32 billion in May 2023 to $1.55 billion in May 2024. On a month-on-month basis, textile exports rose by 25.94%, compared to $1.23 billion in April 2024.

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