Textile group: Jul-Jan exports decline 2.99pc to $9.738bn YoY

ISLAMABAD: The country’s textile group exports declined by around 2.99 percent during the first seven months (July-January) of the current fiscal year and stood at $9.738 billion compared to $10.038 billion during the same period of 2022-23, Pakistan Bureau of Statistics (PBS) said.

The country’s overall exports during July-January 2023-24 totaled $17.778 billion (provisional) against $16.481 billion during the corresponding period of last year showing an increase of 7.87 percent.

The exports in January 2024 were $2.792 billion (provisional) as compared to $2.822 billion in December 2023 showing a decrease of 1.06per cent over December 2023 but increased by 24.81 percent as compared to $2.237 billion in January 2023.

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The data on exports and imports released by PBS revealed that on a month-on-month (MoM) basis, textile exports registered 3.98per cent growth in January 2024 and stood at $1.455 billion compared to $1.399 billion in December 2023.

On a year-on-year (YoY) basis, textile exports increased by 10.10 per cent in January 2024 when compared to $1.321 billion in January 2023.

Cotton yarn exports increased by 49.04per cent during the first seven months of the current fiscal year as it stood at $669.824 million compared to $449.418 million during the same period of the last fiscal year.

On a year-on-year basis, cotton yarn exports registered 19.78per cent growth and stood at $81.295 million when compared to $67.873 million in January 2023, while on a MoM basis, it registered 14.65 per cent negative growth when compared to $95.252 million in December 2023.

Rice exports increased by 95.26 per cent during the first seven months of the current fiscal year and stood at $2.115 billion when compared to $1.083billion during the same period of the last fiscal year.

Food group exports increased by 57.66per cent during the first seven months of the current fiscal year and stood at $4.267 billion when compared to $2.706 billion during the same period of the last fiscal year.

The main commodities of exports during January 2024 were rice others (Rs108,803 million),knitwear (Rs102,331 million), readymade garments (Rs93,462 million), bed wear (Rs70,662 million), cotton cloth (Rs44,773 million), towels (Rs26,930 million), rice basmati (Rs25,055 million), cotton yarn(Rs22,789 million), vegetables (Rs20,449 million), and petroleum products (Rs19,362 million).

Copyright Business Recorder, 2024