H1 textile exports grow 10pc YoY

ISLAMABAD: The country’s textile exports have witnessed a 10% increase, totalling $9.09 billion in the first half of the ongoing fiscal year (2024-25), compared to $8.29 billion during the same period in 2023-24.

According to statistics provided by the All Pakistan Textile Mills Association (APTMA), textile exports initially saw a 3% decline in July 2024.

However, subsequent months showed positive growth, with August rising by 13%, September by 18%, October by 13%, November by 11%, and December by 6%.

Jul-Nov FY25: Textile group exports up 10.51pc to $7.607bn YoY

“During the first half of FY25, exports grew by 10% compared to the first six months of FY24.

However, the current fiscal year shows a 3% decline in exports compared to FY22,“ APTMA reported, referring to its role as a major stakeholder in the textile industry.

In FY22, the textile sector’s total exports for the first six months amounted to $9.38 billion, followed by $8.72 billion in FY23.

The textile exports in December of previous years were $1.62 billion in 2022, $1.36 billion in 2023, $1.40 billion in 2024, and $1.48 billion in 2025.

The government introduced a Winter Incentive Package in December 2024, set to run through February 2025, with approval from the International Monetary Fund (IMF). The government remains hopeful that if this initiative proves successful, the IMF will be requested for grant of extension for the program.

APTMA is also actively engaging with the government on multiple fronts to secure greater benefits for the textile sector, aiming to further stimulate export growth.

Additionally, the association is urging the government to reduce policy rates, striving to bring them into single digits.

Copyright Business Recorder, 2025