ISLAMABAD: The country’s textile group exports declined by around 11.44 per cent during the first month (July) of the current fiscal year 2023-24 on a year-on-year (YoY) basis and stood at $1.311 billion as compared to $1.481 billion during the same period of the last fiscal year 2022-23, the Pakistan Bureau of Statistics (PBS) said.

The country’s overall exports during July 2023 were $2.068 billion (provisional) as compared to $2.356 billion in June 2023, showing a decrease of 12.23 percent and by 8.09 percent as compared to $2.250 billion in July 2022.

The data of exports and imports released by PBS revealed that the country’s textile group exports witnessed a decline of 10.89 percent in July 2023 on a month-on-month basis when compared to $1.471 billion in June 2023.

On a year-on-year basis, cotton yarn exports registered 35.96 percent growth and stood at $97.03 million when compared to $71.365 million, while on a MoM basis, it registered 9.40 per cent negative growth when compared to $107.097 million in June 2023.

Rice exports declined by 15.78 percent on a YoY basis and stood at $117.101 million during July 2023 when compared to $139.047 million in July 2022, while on a MoM basis, it registered 20.50 percent negative growth when compared to $147.304 million in June 2023.

Food group exports declined by 7.56 percent in July 2023 and stood at $329.156 million, when compared to $356.077 million in July 2022 and registered 8.81 percent negative growth when compared to $ 360.961 million in June 2023.

The main commodities of exports during July 2023 were knitwear (Rs102,439 million), readymade garments (Rs77,202 million), bed wear (Rs60,953 million), cotton cloth (Rs39,604 million), cotton yarn (Rs27,266 million), rice others (Rs21,848 million), towels (Rs20,448 million), made-up articles (excluding towels and bedwear) (Rs14,342 million), rice basmati (Rs11,059 million), and fruits (Rs10,045 million).

Copyright Business Recorder, 2023