ISLAMABAD: As per the Pakistan Bureau of Statistics (PBS), the country’s textile group exports saw a modest increase of approximately 0.93 percent during the fiscal year 2023-24, reaching $16.655 billion compared to $16.501 billion in 2022-23.
The PBS data on exports and imports revealed that Pakistan’s total exports in the fiscal year 2023-2024 amounted to $30.677 billion (provisional), up from $27.724 billion during the same period last year, marking a significant increase of 10.65 percent.
However, textile group exports experienced a decline of 3.91 percent in June 2024 on a year-on-year basis, amounting to $1.414 billion compared to $1.471 billion in June of the previous year. On a month-on-month basis, textile group exports fell by 9.23pc from $1.558 billion in May 2024.
Despite the overall annual growth, certain sectors within the textile group performed better than others. Cotton yarn exports, for instance, saw a 13.17pc increase in FY 2023-24, totaling $955.510 million compared to $844.283 million in the previous year.
According to provisional figures compiled by the PBS, exports in June 2024 stood at $2.560 billion (provisional), down by 9.83 percent from $2.839 billion in May 2024. However, this was an increase of 8.66 percent compared to $2.356 million in June 2023.
Notably, Pakistan’s rice exports in 2023-24 reached a record high. During the July-June period, rice exports hit 6.018 million tons, up from around 3.718 million tons in the previous year, marking an impressive increase of 82.94 percent. These exports generated $3.931 billion in revenue, compared to $2.149 billion during the same period last fiscal year.
The main commodities exported in June 2024 included knitwear (Rs119,053 million), readymade garments (Rs90,445 million), bed wear (Rs65,290 million), other rice varieties (Rs55,876 million), cotton cloth (Rs37,626 million), basmati rice (Rs28,705 million), towels (Rs24,272 million), made-up articles excluding towels and bed wear (Rs16,598 million), fruits (Rs13,571 million), and cotton yarn (Rs12,618 million). -PR
