Pakistan's textile exports up by 5% YoY in October

After a continued decline of 12 months, Pakistan’s total textile exports registered an increase of 5% YoY to $1.43bn in October 2023 compared to $1.36bn recorded in the same period of last year.

According to the figures released by the All Pakistan Textile Mills Association (APTMA) this is the first increase recorded every year after 12 months of decline.

Similarly, in September 2023, Pakistan’s exports stood at $1.36 billion. Furthermore, the total textile exports of Pakistan remained $13.34 billion during January-October 2023 after recording 16per cent drop as compared to the same period in 2022.

Meanwhile, All Pakistan Textile Mills Association has urged the government to reduce power tariff to restore industry in the country.

Addressing a press conference, APTMA Chairman Asif Inam said that the meeting with caretaker energy and trade ministers was ‘positive’, hoping that matters will be settled on power tariff.

Asif Inam noted that the association has demand a cut in power tariff by Rs10.85, saying that competitive energy cost was necessary to increase domestic exports.

“The textile industry was not able to enhance export at the current prices of electricity,” he said, pointing out that textile exports were reducing at an ‘alarming rate’.