Pakistan’s textile exports fell by 4.84 percent to $1.237 billion in April 2024 from $1.300 billion in exports recorded in March 2024, according to figures issued by the Pakistan Bureau of Statistics (PBS).
In April 2024, textile group exports reached $1.232 billion, a monthly rise of 0.37 percent over the same month in FY23. The lowest level of textile exports was reported in April 2024, at $1.232 billion, a 12-month low, following the record-breaking April 2023.
In the initial ten months of the current fiscal year 2023–24 (FY24), the country’s exports of textile group fell by approximately 0.19 percent, from $13.709 billion to $13.683 billion in the same time previous year.
PBS’s data on imports and exports indicates that the country’s exports for the 10MFY24 period were $25.279 billion (provisional), a 9.10 percent increase from $23.171 billion at the same time the year prior.
From July to April, cotton yarn exports increased by 32.83 percent to $845.923 million from $636.832 million in the same period the previous year.
Cotton yarn exports showed a negative 15.11 percent rise on an annual basis, but a positive 24.40 percent growth on a month-over-month basis.
Pakistan’s Export Trends: April 2024 Analysis
According to preliminary figures released by the Pakistan Bureau of Statistics, exports in April 2024 were $2.352 billion (provisional) compared to $2.567 billion in March 2024; this is a decrease of 8.38 percent from March 2024 but an increase of 10.16 percent from $2.135 billion in April 2023.
The main export commodities in April 2024 were:
- Knitwear (Rs. 90,772 million)
- Ready-made clothing (Rs. 81,020 million)
- Rice varieties (Rs. 76,438 million)
- Bed linens (Rs. 56,332 million)
- Cotton cloth (Rs. 37,556 million)
- Towels (Rs. 22,459 million)
- Rice basmati (Rs. 21,378 million)
- Cotton yarn (Rs. 15,052 million)
- Made-up items (sans towels and bedclothes) (Rs. 14,843 million)
- Fish and fish preparations (Rs. 12,123 million)
Pakistan’s Textile Exports Sees a Dip Of 12% To $1.35 Bn in Sept
Pakistan exported $1.35 billion worth of textiles in September 2023, a 12 percent decrease from $1.53 billion in the same month the previous fiscal year.
The All-Pakistan Textile Mills Association (APTMA) reports that these exports fell by 8% on a monthly basis compared to the $1.46 billion realized in August 2023.
According to the Pakistan Board of Statistics (PBS), exports fell by 10% in the first quarter of the current fiscal year (1QFY24) from $4.59 billion in the previous quarter to $4.12 billion.
However, it is noteworthy that as of September 2023, Pakistan’s overall exports increased by 4% per month and 1% per year.
To read our blog on “Over 1600 textile mills have been closed in just 16 months,” click here.