Due to an increase in production costs and cash flow issues, textile andclothing revenues on an annual basis decreased by 9.49% during the first 2months of the current fiscal year.
According to a private TV report, textile and clothing revenues on anannual basis had dropped by 14.63% during the fiscal year 2023, leavingthem at 16.5 billion dollars, while Pakistan’s total merchandise exportsrecorded a decline of 12.71% to 27.54 billion dollars, compared to theprevious fiscal year, which had remained at 31.78 billion dollars.
According to data released by the Pakistan Bureau of Statistics (PBS),textile and clothing revenues during July to August decreased to 2.76billion dollars.
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The trend of decline, which had recorded 3.05 billion dollars during thesame period last year, is likely to continue in the first half of thefiscal year 2024.
