Pakistani Textile & Garment Exports Grow Slower At 3.2% In March
After posting double digit growth in three previous consecutive months Pakistan’s textile and garment exports slipped into low single digit growth in March 2024
Exports of textiles and apparels grew by a paltry 3.29 percent to US $1.29 billion in March as against $1.25 billion in the same month of 2023, data from Pakistan Bureau of Statistics (PBS) informed.
However, when compared with February, overseas shipments from the sectors declined 7.67 percent month on month.
Exports of clothing rose 3.92 percent year on year by value and 19.39 percent by quantity in March, while knitwear exports increased 8.12 percent year over year by value and 19.58 percent by quantity.
Towel exports expanded 18.10 percent by value and 22.39 percent by quantity again in March over a year ago month, while exports of cotton fabrics hiked 3.18 percent by value and 29.63 percent by volume.
Exports of yarn decreased 36.09 percent month on month in March, while exports of made-up articles, excluding towels rose 17.49 percent.
Pakistani imports of textile machinery in March crashed by 49 percent from a year ago month, indicating that expansion or modernisation is not a priority.
In the first nine months of fiscal 2023-24 ending June 2024, textile and clothing exports dropped 0.25 percent to $12.44 billion as against $12.47 billion in same period of earlier fiscal.
