Pakistan’s textile exports in August surged to the highest level since September 2022 ($1.53 billion), according to Arif Habib Limited.
As per the latest export data shared by the All Pakistan Textile Mills Association (APTMA), textile exports clocked in at $1.48 billion during August 2023. On a month-on-month basis, exports surged by 13 percent from $1.31 billion reported in July 2023.
On a year-on-year basis, textile exports slumped by 6.3 percent compared to $1.58 billion recorded in the same period last year.
The country’s textile exports during the calendar year 2023 to date clocked in at $10.58 billion, down 19 percent compared to exports of $13 billion reported in January-August 2022.
Going forward in FY24, textile exports will depend on demand from export markets of the US and Europe. High energy costs and an increase in the minimum wage for FY24 will be key challenges for the sector.
