Pakistan’s textile exports face a major setback
Shares
The country’s textile group exports declined by around 5 percent during the first five months (July-November) of the current fiscal year 2022-23 (FY23) and stood at $7.361 billion as compared to $7.757 billion during the same period of last year, the Pakistan Bureau of Statistics (PBS) said.
The data on exports and imports released by PBS revealed that the country’s textile group exports witnessed a decline of 18.15 percent in November 2022 on a year-on-year (YoY) basis and stood at $1.420 billion, compared to $1.735 billion during the same month of last year.
On a month-on-month (MoM) basis, the textile group registered 4.71 percent growth compared to $1.357 billion in October 2022.
Cotton yarn exports registered 35 percent negative growth in July-November and stood at $328.197 million compared to $503.898 million during the same period of the last year.
On a year-on-year basis, cotton yarn exports registered 60.71 percent negative growth, while on a MoM basis, they registered 12.58 percent negative growth. Overall Exports
The country’s overall exports during July–November 2022 stood at $11.945 billion (provisional) against $12.362 billion during the corresponding period of last year showing a decrease of 3.37 percent.
The exports in November 2022 were $2.391 billion (provisional) as compared to $2.384 billion in October 2022 showing an increase of 0.29 percent but decreased by 17.58 percent as compared to $2.901 billion in November 2021.
