AIRLINK 63.43 Increased By ▲ 0.23 (0.36%)
BOP 5.46 Increased By ▲ 0.06 (1.11%)
CNERGY 4.68 Increased By ▲ 0.11 (2.41%)
DFML 19.02 Decreased By ▼ -0.71 (-3.6%)
DGKC 70.29 Increased By ▲ 1.29 (1.87%)
FCCL 19.12 Increased By ▲ 0.87 (4.77%)
FFBL 30.86 Increased By ▲ 1.47 (5%)
FFL 9.58 Increased By ▲ 0.27 (2.9%)
GGL 10.16 No Change ▼ 0.00 (0%)
HBL 109.20 Decreased By ▼ -0.86 (-0.78%)
HUBC 127.70 Increased By ▲ 1.69 (1.34%)
HUMNL 6.85 Increased By ▲ 0.12 (1.78%)
KEL 4.39 Decreased By ▼ -0.08 (-1.79%)
KOSM 4.43 Decreased By ▼ -0.02 (-0.45%)
MLCF 37.39 Increased By ▲ 0.79 (2.16%)
OGDC 128.50 Increased By ▲ 0.20 (0.16%)
PAEL 22.80 Decreased By ▼ -0.39 (-1.68%)
PIAA 26.50 Increased By ▲ 0.30 (1.15%)
PIBTL 6.19 Increased By ▲ 0.19 (3.17%)
PPL 112.52 Decreased By ▼ -0.28 (-0.25%)
PRL 26.85 Decreased By ▼ -0.30 (-1.1%)
PTC 16.75 Decreased By ▼ -0.34 (-1.99%)
SEARL 60.72 Decreased By ▼ -1.37 (-2.21%)
SNGP 65.35 Increased By ▲ 1.40 (2.19%)
SSGC 11.05 Increased By ▲ 0.02 (0.18%)
TELE 9.10 Decreased By ▼ -0.13 (-1.41%)
TPLP 11.28 Increased By ▲ 0.28 (2.55%)
TRG 69.85 Decreased By ▼ -1.10 (-1.55%)
UNITY 23.65 Decreased By ▼ -0.30 (-1.25%)
WTL 1.31 Decreased By ▼ -0.07 (-5.07%)
BR100 7,280 Increased By 64.2 (0.89%)
BR30 23,637 Increased By 105.1 (0.45%)
KSE100 70,315 Increased By 694.7 (1%)
KSE30 23,132 Increased By 221.5 (0.97%)
Markets

Pakistan’s textile exports plunge in March: APTMA

  • Textile exports fall 21% year-on-year to $1.29 billion in March
Published April 4, 2023

Pakistan’s textile sector exports witnessed a significant decline of 21%, clocking in at $1.29 billion in March 2023 compared to $1.63 billion recorded in the same month of the previous year, showed provisional data released by the All Pakistan Textile Mills Association (APTMA) on Tuesday.

Data showed the country’s textile exports in the first nine months of FY23 decreased by 12% to $12.5 billion, declining from $14.23 billion a year earlier.

The decline in the key textile exports is concerning for the South Asian economy, which is dealing with low foreign exchange reserves.

Forex reserves held by the State Bank of Pakistan (SBP) are treading at $4.2 billion, barely enough for a month of essential imports.

Pakistan’s textile exports significantly decline in January: APTMA

Last week, APTMA warned that the country’s textile exports could fall by $3 billion this year as compared to last year, while urging authorities to take immediate and urgent intervention.

“The decline in textile exports has been progressively accelerating,” APTMA Patron in Chief Gohar Ejaz had said in a letter to Prime Minister Shahbaz Sharif.

“The progressive decline in exports is a consequence of the moratorium on import of raw materials and essential spare parts, lack of adequate supply of energy at competitive prices and failure of the sales tax refund system, all have contributed significantly to the closure of over 50% of industry.

“Given the trajectory of decline, Pakistan is likely to fall short by $3 billion in textile exports from the exports achieved last year of $19.4 billion without taking into account any increase from newly installed capacity,” warned Ejaz.

Meanwhile, Pakistan’s exports during July-March (2022-23) were recorded at $21.046 billion against the exports of $23.350 billion in July-March of 2021-22, showing a decline of nearly 10%, according to the trade data released by PBS on Monday.

Comments

Comments are closed.

Tulukan Mairandi Apr 04, 2023 01:43pm
Imports are not reducing so fast though, signaling something amiss. Unfortunately despite the ban there is dubious trade with India routed through Dubai. Karachi is packed with Dabur, Himalaya and Yardley products that are apparently "made in UAE", which isn't true. Besides, unscrupulous importers are bringing in indian excrement as "bharat halva", which are being served to our people. The next factor is imbalanced trade with iron brother China, and outflow of our foreign money to Kabul.
thumb_up Recommended (0)
Shahid Khan Apr 04, 2023 04:07pm
Is that the Shehbaz Speed the media was highlighting?
thumb_up Recommended (0)
Az_Iz Apr 04, 2023 05:31pm
Just a few weeks ago, textile industry was saying, they have built up inventories that they are not able to sell due to lack of demand in export markets. Now they are saying, they cannot produce goods because they cannot import raw materials , machine parts and high cost of energy. Why don’t they sell the inventory already built up, instead of looking at every opportunity to get concessions from the government.
thumb_up Recommended (0)
Dr.Salaria, Aamir Ahmed Apr 04, 2023 06:17pm
@Tulukan Mairandi, not just bring served, but being gobbled, relished, chewed swallowed and enjoyed by our people.
thumb_up Recommended (0)
Dr.Salaria, Aamir Ahmed Apr 04, 2023 06:18pm
@Az_Iz, 100% correct .
thumb_up Recommended (0)
TimeToMovveOn Apr 04, 2023 06:47pm
Stupid pakistan buys expensive indian products through UAE, but has a principled position on not trading directly with india due to kashmir. Pakistan is a basket case where it cuts its nose to spite its face.
thumb_up Recommended (0)
Az_Iz Apr 04, 2023 10:13pm
@Tulukan Mairandi, looks like bharath halva is a famous dish in bharath. After it is consumed in large quantities in bharath, it is being exported as well.
thumb_up Recommended (0)
Az_Iz Apr 04, 2023 10:16pm
@TimeToMovveOn, you want trade with Pakistan but not discuss Kashmir? Hold plebiscite, as promised by Nehru. It is India that took the issue to UN, promising to abide by the resolution in letter and spirit.
thumb_up Recommended (0)
Hassan Mustafa Apr 06, 2023 01:06pm
WHY IS A DLTL SCHEMES NOT OPENED? MANY EMPLOYEES ARE FIRE?
thumb_up Recommended (0)