Pakistan’s textile group exports declined by 12.2 percent during the first nine months (July-March) of the current fiscal year 2022-23 (FY23) and stood at $12.5 billion as compared to $14.2 billion during the same period of last year, according to data released by All Pakistan Textile Manufacturers Association (APTMA) on Tuesday.
The data revealed that the country’s textile group exports witnessed a decline of 20.6 percent in March 2023 on a year-on-year basis and remained at $1.29 billion when compared to $1.63 billion during the same month of last year.
Textile exports decreased by 20.6% YoY to USD 1.29bn during Mar’23, the 6th consecutive YoY decline in monthly textile exports.
Mar’23: $ 1.29bn, -20.6% YoY, +9.3% MoM
9MFY23: $ 12.50bn, -12.2% YoY@PBSofficialpak @APTMAofficial @StateBank_Pak#PBS #Exports #Trade #Economy pic.twitter.com/RF6oDrdW7W— Arif Habib Limited (@ArifHabibLtd) April 4, 2023
On a month-on-month (MoM) basis, the textile group registered a 9.32 percent growth compared to $1.18 billion in February 2023.
Overall Exports
Pakistan’s overall exports rebounded in March 2023 after six months of consecutive decline and stood at $2.367 billion compared to exports of $2.191 in the previous month (February 2023), registering an increase of 8 percent.
The country’s exports during July-March of the current fiscal year 2022-23 (FY23) were recorded at $21.046 billion against the exports of $23.350 billion in July-March of FY22, showing a decline of 9.87 percent, according to the trade data.
