According to the Pakistan Bureau of Statistics (PBS), the country’s textile group exports decreased approximately 4.97 percent in the first half of the current fiscal year (July-December) to $8.283 billion, down from $8.716 billion in the same time in 2022-23.
The country’s entire exports from July to December of fiscal year 2023-24 totaled $14.991 billion (provisional), up from $14.244 billion in the same time last year, representing a 5.24 percent grow.
Total exports in December 2023 were $2.822 billion (provisional), compared to $2.573 billion in November 2023, representing a 9.68 percent gain and a 22.64 percent increase over $2.301 billion in December 2022.
PBS statistics on exports and imports revealed that textile exports increased by 6.15 percent month on month (MoM) in December 2023, reaching $1.399 billion from $1.318 billion in November 2023. Textile exports climbed 3.33 percent year on year (YoY) in December 2023, from $1.354 billion in December 2022.
In H1FY24, cotton yarn exports surged by 54.25% to $588.529 million, up from $381.545 million in the previous fiscal year. Year-on-year, cotton yarn exports saw a remarkable 78.55% growth, reaching $95.252 million in December 2023 compared to $53.349 million in December 2022. Month-on-month, it recorded an 11.13% increase from $85.713 million in November 2023.
Rice exports also witnessed a substantial rise of 76.53%, totaling $1.638 billion in H1FY24, compared to $927.918 million in the same period last fiscal year. Additionally, food group exports increased by 49.84%, reaching $3.481 billion in the first half of the current fiscal year, compared to $2.323 billion in the corresponding period of the previous fiscal year.
Key export commodities in December 2023 included rice others, knitwear, readymade garments, bed wear, cotton cloth, cotton yarn, towels, rice basmati, made-up articles (excluding towels and bedwear), and meat and meat preparations.
