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

ISLAMABAD: The country’s textile group exports declined by around 7.07 percent during the first half (July-December) of the current fiscal year 2022-23 and remained at $8.717 billion as compared to $9.381 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 16.47 percent in December 2022 on a year-on-year basis and remained at $1.356 billion when compared to $1.623 billion during the same month of last year.

On a month-on-month (MoM) basis, the textile group registered 4.56 per cent negative growth compared to $1.420 billion in November 2022.

July-Nov textile group exports fall around 5pc YoY

Cotton yarn exports registered 37.50 per cent negative growth in July-December and remained $381.546 million compared to $610.427 million during the same period of the last year.

On a year-on-year basis, cotton yarn exports registered 49.92 percent negative growth, while on a MoM basis, it registered 24.41 percent growth.

The country’s overall exports during July-December 2022-23 totaled $14.258 billion (provisional) against $15.125 billion during the corresponding period of last year showing a decrease of 5.73 percent.

The exports in December 2022 were $2,313 million (provisional) as compared to $2.391 billion in November 2022 showing a decrease of 3.26 percent and 16.32 per cent as compared to $2.764 billion in December 2021.

The main commodities of exports during December 2022 were knitwear (Rs79,492 million), readymade garments (Rs71,729 million), bed wear (Rs46,846 million), cotton cloth (Rs36,563 million),rice others (Rs28,623 million), towels (Rs18,472 million), madeuparticles (Excl towels and bedwear) (Rs16,019 million), cotton yarn (Rs11,991 million), rice basmati (Rs11,495 million), and fruits (Rs10,236 million).

Copyright Business Recorder, 2023