Jul-Feb textile group exports dip 11.09pc YoY

ISLAMABAD: The country’s textile group exports declined by around 11.09 percent during the first eight months (July-February) of the current fiscal year 2022-23 and remained at $11.218 billion as compared to $12.617 billion during the same period of last year, the Pakistan Bureau of Statistics (PBS) said.

The data of exports and imports released by PBS revealed that the country’s textile group exports witnessed a decline of 29.92 percent in February 2023 on a year-on-year basis and remained at $1.180 billion when compared to $1.684 billion during the same month of last year.

On a month-on-month (MoM) basis, the textile group registered 10.69per cent negative growth compared to $1.321 billion in January 2023. Cotton yarn exports registered 38.12per cent negative growth in July-February and remained $550.015 million compared to $816.102 million during the same period of the last year.

Textile group: H1FY23 exports decline 7.07pc to $8.72bn YoY

On a year-on-year basis, cotton yarn exports registered 56.65 per cent negative growth, while on a MoM basis, it registered 18.09 per cent growth.

Rice exports declined by 12.09per cent during the first eight months of 2022-23 and remained $1.354 billion compared to $1.540 billion during the same period of the last fiscal year.

The country’s overall exports during July-February 2022-23 totalled $18.678 billion (provisional) against $20.573 billion during the corresponding period of last year showing a decrease of 9.21 per cent.

The exports in February, 2023 were $2.191 billion (provisional) as compared to $2.244 billion in January, 2023 showing a decrease of 2.36 per cent and by 22.69 per cent as compared to $2.834 billion in February 2022.

Main commodities of exports during February 2023 were knitwear (Rs73,897 million), readymade garments (Rs68,044 million), rice others (Rs59,052 million), bedwear (Rs52,215 million), cotton cloth (Rs41,262 million), towels (Rs22,311 million), cotton yarn (Rs14,826 million), rice basmati (Rs13,300 million), madeup articles (excl towels and bedwear) (Rs13,257 million), and fish and fish preparations (Rs10,221 million).

Copyright Business Recorder, 2023