July-May textile group exports fall 14.72pc to $15.029bn YoY

ISLAMABAD: The country’s textile group exports declined by around 14.72 percent during the first eleven months (July-May) of the current fiscal year 2022-23 and remained at $15.029 billion as compared to $17.623 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 the country’s textile group exports witnessed a decline of 19.57 per cent in May 2023 on a year-on-year basis and remained at $1.320 billion when compared to $1.641 billion during the same month of last year.

On a month-on-month (MoM) basis, the textile group registered 7.12 percent growth compared to $1.232 billion in April 2023. Cotton yarn exports registered 33.75 per cent negative growth in July-May and remained $737.186 million compared to $1.112 billion during the same period of the last year. On a year-on-year basis, cotton yarn exports registered 5.83 per cent negative growth, while on a MoM basis, it registered 57.43 per cent growth.

Rice exports declined by 12.05 per cent during the first 11months of 2022-23 and remained $2.001 billion compared to $2.276 billion during the same period of the last fiscal year.

The country’s exports during exports during July-May, totaled $25.380 billion (provisional) against $28.871 billion during the corresponding period of last year showing a decrease of 12.09 percent.

The exports in May 2023 were $2.2 billion (provisional) as compared to $2.137 billion in April 2023 showing an increase of 2.95 percent but decreased by 16.16 percent as compared to $2.624 billion in May 2022.

Main commodities of exports during May, 2023 were knitwear (Rs94,969 million), readymade garments (Rs76,422 million), bed wear (Rs57,521 million), cotton cloth (Rs49,865 million), rice others (Rs32,197 million), cotton yarn (Rs28,650 million), towels (Rs24,975 million), rice basmati (Rs19,074 million), fish and fish preparations (Rs14,439 million) and made-up articles (excl. towels and bedwear) (Rs14,367 million).

Copyright Business Recorder, 2023