Pakistan’s textile exports grew six percent on a year-on-year basis in August 2022 compared to the same period last year.

The country’s textile exports increased by 4.7 percent on a month-on-month basis in August 2022 compared to July 2022.During the first two months of fiscal year 2023 textile exports surged by three percent year on year against the same period last year.

Pakistan’s textile exports had dropped by 13.21 percent on a month-on-month basis to an eleven-month low in July 2022 mainly due to a lack of energy supplies. However, continuous energy supplies in August have improved the situation. Pakistan’s overall exports have surged by over 11 percent year on year during August 2022.

Pakistan’s textile industry is faced with countless opportunities to capture a greater market share, but state reforms in energy, technological upgradation, diversification and value addition will be necessary in order to enhance the potential of the sector and facilitate economic growth.

Pakistan’s exporters handled disruptions such as the Covid pandemic very well especially in comparison to regional competitor Bangladesh.To maintain the current momentum, the textile sector has committed to unprecedented value addition by committing to setting up 1000 garment plants.