Pakistan’s exports of textiles surged to an all-time high as they rose by 26 percent to $14.26 billion during the first nine months of the current fiscal year as compared to $11.36 billion in the same period last year.
According to the All Pakistan Textile Mills Association (APTMA), the year-on-year (YoY) rise in exports is attributed to the high demand in the West ahead of the summer season, while other causes include the revival of economic activity which has resulted in a scarcity of numerous retail brands, competitive utilities, and borrowing rates.
In comparison to last year, Pakistan’s textile exports remained up, led primarily by a significant recovery in the value-added segments.
Likewise, last month’s exports climbed by 21 percent YoY to $1.65 billion, up from $1.36 billion in March 2021.
Textile exports during March-22 recorded at USD 1.65bn, after registering an impressive 21% YoY growth. This takes 9MFY22 textile exports to USD 14.26bn, up by 26% YoY. pic.twitter.com/Q2Mh5aYlSh
— Ismail Iqbal Securities (@iispl_sec) April 6, 2022
The data further shows that on a linear basis, textile exports have fallen by 2.3 percent month on month from $1.69 billion in February to $1.65 billion in March.