Pakistan's textile exports suffer major setback
Shares
In September 2023, Pakistan's textile exports experienced a 12 percent year-on-year decline, amounting to $1.35 billion, down from the $1.53 billion reported in the same month of the previous fiscal year.
According to data from the All Pakistan Textile Mills Association (APTMA), these exports also decreased by 8 percent on a month-on-month basis compared to the $1.46 billion recorded in August 2023.
This downward trend continued in the first quarter of the current fiscal year (1QFY24), with exports falling by 10 percent to $4.12 billion, down from $4.59 billion in 1QFY23, as reported by the Pakistan Board of Statistics (PBS).
However, it's worth noting that Pakistan's overall exports in September 2023 showed growth, increasing by 4 percent month-on-month and 1 percent year-on-year. Caretaker Federal Minister for Commerce Gohar Ejaz has set an ambitious target of $25 billion for textile exports in the current fiscal year, compared to FY23's textile exports of $16.50 billion.
