Textile Exports: In April 2023, Pakistan's textile exports recorded a significant decrease of 29.11% year-on-year (YoY) and 1.99% month-on-month (MoM), reaching $1.232 billion, according to the Pakistan Bureau of Statistics (PBS). Cumulatively, for the first ten months of FY23, textile exports stood at $13.709 billion, reflecting a 14.22% YoY drop compared to the same period last year.
Changes in Textile Categories: In April 2023, specific textile categories experienced varying levels of change. Raw cotton, ready-made garments, and art, silk, and synthetic textiles witnessed month-on-month declines of 47.22%, 20.88%, 10.49%, and 7.89%, respectively. However, bedwear exports increased by 10.77% MoM, knitwear by 3.31% MoM, and towels by 1.02% MoM. On a yearly basis, ready-made garments and knitwear exports plummeted by 29.45% and 34.02% respectively, while raw cotton exports surged by 100%.
Pakistan's textile exports faced challenges in April 2023, witnessing significant declines in various categories. While some sectors, such as bedwear, saw slight improvements, overall exports experienced negative growth. Efforts are required to address the factors impacting these sectors and explore strategies to boost export performance in the future.
