Pakistan’s monthly textile exports reached its highest levels in April 2022 as they grew by 31 per cent Y-o-Y and 7 per cent M-o-M to $1.739 bn during April 2022, as per latest data released by the Pakistan Bureau of Statistics (PBS). A report by MG Link informs, From July-April 2022, Pakistan’s textile exports grew 26 per cent Y-o-Y to $15.98billion compared to $12.69 billion recorded in 10MFY21.
Knitwear, readymade garments, bed-wear, and towels exports grew by 44 per cent, 44 per cent, 16 per cent, and 28 per cent, Y-o-Y to $488 mn, $351million, $279million and $108 million respectively during April 2022 compared to the same month last year. The momentum of textile exports growth is likely to remain strong in upcoming months due to continued rerouting of orders out of China. The surge in freight charges on shipments of unfinished products to competitors like Bangladesh will lead to brand routing orders to Pakistani exporters in order to arrest thinning margins, says Abdul Ghani Mianoor, Investment Analyst, Intermarket Securities
Demand for value-added products in the country is likely to remain intact, as orders have been booked for at least the next three months. Procurement of cotton at lower than prevailing rates will result in sustained strong margins for the remainder of FY22. However, the prolonging of the ongoing Russia-Ukraine issue may slowdown export growth, he adds.