Pakistan's textile exports record 3pc drop on MoM basis in June 2024

Pakistan’s textile exports recorded 3 per cent decrease on MoM basis in June 2024, a report of the Pakistan Bureau of Statistics (PBS) said.

Textile exports showed a decline of 3.09 percent from $1,311.650 million during the same month of last year (July 2023-24).

The textile commodities that contributed in trade growth included tents, canvas and tarpaulin the exports of which increased by 14.22 percent to $10.877 million during the July 2024 as compared to the exports of $9.523 million last year July.

The other commodities that witnessed growth in trade included readymade garments the exports of which grew by 7.57 percent to $295.522 million from $274.730 million whereas the export of art, silk and synthetic textile rose by 4.12 percent to $27.245 million.

The textile commodities that witnessed negative growth in trade included cotton yarn, the exports of which declined by 42.54 percent, from $97.031 million to $55.750 million whereas the export of cotton cloth decreased by 0.56 percent from 140.936 million to 140.148 million.

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Likewise, the export of yarn other than cotton yarn also dipped by 22.35 percent from 3.292 million to 2.556 million, knitwear also went down by 1.88, from $364.541 million to $357.686 million, bed wear by 1.20 percent, from $216.910 million to $214.305 million and towels by 3.67 percent, from $72.766 million to $70.093 million.

The exports of made up article (excluding towels and bedwear) decreased by 5.84 percent from $51.039 million from $48.057.

The exports of all other textile materials decreased by 9.38 percent from $53.956 million to $48.897 million.

Meanwhile, on month-on-month basis the textile exports from the country declined by 10.13 percent during the month of July 2024 as compared to the exports of $1,414.417 million recorded in June 2024, the PBS data revealed.