ISLAMABAD: The country’s textile exports registered a decline of 15 percent and remained $1.31 billion during July 2023 compared to $1.54 billion recorded in the same period last year.

The All Pakistan Textile Mills Association (APTMA) data revealed that the country’s textile exports during the first seven months (Jan-July) of the calendar year 2023 stood at $9.09 billion, down 21 percent compared to exports of $11.48 billion reported in January-July 2022.

On a month-on-month basis, textile exports slid 10.9 percent from $1.47 billion reported in June 2023. The textile exports during June 2023 were also the highest monthly exports since September 2022. The country’s textile exports had slumped to below $1.2 billion in February 2023.

The overall exports declined by 12.68 percent on a month-on-month (MoM) basis in the first month (July) of the current fiscal year 2023-24 and remained $2.057 billion compared to $2.356 billion in June 2023, according to the Pakistan Bureau of Statistics (PBS). On a year-on-year (YoY) basis, exports witnessed a decline of 8.57 percent and were recorded at $2.057 billion in July 2023 against the exports of $2.250 billion in July 2022.

Copyright Business Recorder, 2023