Pakistan’s textile exports grew by 25.5 per cent Y-o-Y to $19.3 billion in FY22 compared to $15.4billion in FY21, the latest data released by the Pakistan Bureau of Statistics (PBS) showed.

The robust growth in exports is attributed to a rise in global demand post-Covid restrictions and a significant surge in cotton prices.

In the month of June’22, textile sector exports, while sustaining above the $1.5billion level, witnessed an increase of 4 per cent M-o-M and 3 per cent Y-o-Y to $1.7billion, compared to $1.6billion in the previous month and $1.65billion in June’21.

As per the data, during the month, a major increase was witnessed in the value-added division, especially in the readymade garment segment which grew 15 per cent M-o-M. This was followed by knitwear that grew 11 per cent M-o-M, where a 28 per cent increase in volumetric growth played a key role.

Similarly, the value-added segment continued to drive performance on yearly basis, as value-added exports clocked in at $1.2billionn, up by 7.4 per cent Y-o-Y despite a substantial volumetric decline of 29 per cent on a Y-o-Y basis.

Cumulatively, in FY22, total value-added exports were recorded at $13.4bn, showing a growth of 27 per centYoY despite a marginal increase of 7 per cent Y-o-Y in volumes. Within the value-added segment, key contributions came from knitwear ($5.1billion), bedwear ($3.3billlion), towels ($1.1billion) and readymade garments ($3.9billion).