Pakistan's textile exports continue to decline for the fifth consecutive month, reaching a low of $1.2 billion in February 2023, the lowest since May 2021.

This marks a 28 per cent year-on-year decrease in textile exports, with February 2023 figures down from $1.67 billion during the same period in the previous fiscal year. Additionally, textile exports have also decreased by 9.1 per cent month-on-month, compared to exports of $1.32 billion in January 2023.

The current fiscal year's first eight months (8MFY23) saw textile exports amount to $11.24 billion, down almost 11 per cent from $12.60 billion during the same period in the previous fiscal year (8MFY22).

The decline in textile exports is part of an overall trend of decreasing exports for the sixth consecutive month in February 2023, with exports declining by 18.67 per cent to $2.31 billion compared to $2.83 billion in February 2022, according to data released by the Pakistan Bureau of Statistics (PBS).