Textile group: Jul-Mar exports decline 12.4pc to $12.476bn YoY

ISLAMABAD: The country’s textile group exports declined by around 12.40 percent during the first nine months (July-March) of the current fiscal year 2022-23 and remained at $12.476 billion as compared to $14.242 billion during the same period of last year, the Pakistan Bureau of Statistics (PBS) said.

The data of exports and imports released by PBS revealed that the country’s textile group exports witnessed a decline of 22.61 per cent in March 2023 on a year-on-year basis and remained at $1.257 billion when compared to $1.625 billion during the same month of last year.

On a month-on-month (MoM) basis, textile group registered 6.55 per cent growth compared to $1.180 billion in February 2023.

Jul-Feb textile group exports dip 11.09pc YoY

Cotton yarn exports registered 36.92 per cent negative growth in July-March and remained $573.084 million compared to $908.487 million during the same period of the last year. On a year-on-year basis, cotton yarn exports registered 26.32 per cent negative growth, while on a MoM basis, it registered 22.43 per cent growth.

Rice exports declined by 10.79 per cent during the first nine months of 2022-23 and remained $1.598 billion compared to $1.791 billion during the same period of the last fiscal year.

The country’s overall exports during July-March, 2022-23 totalled $21.051 billion (provisional) against $23.350 billion during the corresponding period of last year showing a decrease of 9.85 per cent. The exports in March 2023 were $2.372 million (provisional) as compared to $2.191 billion in February 2023 showing an increase of 8.26 per cent but decreased by 14.58 per cent as compared to $2.777 billion in March 2022.

Main commodities of exports during March 2023 were knitwear (Rs87,269 million), readymade garments (Rs77,456 million), bed wear (Rs55,154 million), rice others (Rs48,799 million), cotton cloth (Rs44,260 million), towels (Rs22,077 million), rice basmati (Rs19,467 million), cotton yarn (Rs19,073 million), sugar (Rs17,389 million), and fish and fish preparations (Rs15,325 million).

Copyright Business Recorder, 2023