The value of textile and garment exports from Pakistan decreased by five per cent from July 2022 to November 2022.

Category-wise, knitwear exports rose by two per cent year on year during the period under review while exports of non-knit readymade garments were up one per cent. As for textiles, exports of cotton yarn decreased by 34 per cent while exports of cotton fabric fell four per cent. Bed wear exports declined by 13 per cent.

On the import front, synthetic fiber imports decreased by 37 per cent year on year while imports of synthetic and artificial silk yarn dropped by 23 per cent million during the same period. Meanwhile, the value of textile machinery imports by Pakistan in the same period decreased significantly by 41 per cent year on year, showing a drop in new investments.

In the earlier fiscal, textile and garment exports from Pakistan increased by 25 per cent. Pakistan’s textile exports plunged by 19 percent in November 2022 as compared to the corresponding period last year.

At a time when the country is faced with immense economic challenges and looking toward the IMF and friendly countries for inflows of dollars to meet its external liabilities, the continuous fall in textile exports is alarming and expected to add to its economic woes.