During the first quarter of the fiscal year 2023-24 (July-September),Pakistan’s exports totaled $6.910 billion (provisional), reflecting a 3.63percent decrease compared to the corresponding period in the previous year.This information is based on data released by the Pakistan Bureau ofStatistics (PBS).
Specifically, the country’s textile group exports experienced a notabledecline of approximately 9.95 percent during the first quarter of FY24,amounting to $4.127 billion compared to $4.584 billion in the same periodof FY23.
Conversely, cotton yarn exports showed significant growth, increasing by33.50 percent in the first quarter of FY24, reaching $315.404 million incontrast to $236.263 million during the equivalent period of FY23.
Rice exports also witnessed a modest growth of 0.98 percent during theinitial quarter of FY24, reaching $406.387 million, as opposed to $402.461million in the corresponding quarter of FY23. Furthermore, the food groupexports displayed a robust growth of 18.88 percent during the first threemonths of FY24, amounting to $1.280 billion compared to $1.077 billion inthe same period of FY23.
In September 2023, the total exports were $2.476 billion (provisional),which represented a 4.65 percent increase from August 2023, and a 1.60percent increase compared to September 2022.
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Analyzing the data further, on a month-on-month (MoM) basis, textileexports indicated a 6.48 percent decrease in September 2023, with a totalof $1.360 billion, down from $1.455 billion in August 2023. On ayear-on-year (YoY) basis, textile exports displayed a decline of 10.88percent in September 2023, with a significant decrease from $1.527 billionin September 2022.
Additionally, cotton yarn exports experienced substantial growth on ayear-on-year basis, with a remarkable 49.81 percent increase, reaching$113.567 million compared to $75.809 million in September 2023. On a MoMbasis, these exports registered an 8.36 percent increase when compared to$104.806 million in August 2023.