Oct Pak Textile Exports Post Growth First Time This Year
Pakistani textile exports reported a growth for the first time this year in October 2023, after nine months of decline in the current year.
“Overseas shipments of textiles grew 5 percent in October 2023 to US $1.43 billion when compared with October 2022,” data released by All Pakistan Textile Mills Association (APTMA) informed.
However, textile exports in the first four months of the current fiscal beginning from July dropped 7 percent year over year to $5.55 billion.
In the first ten months of the current year, Pakistani textile exports fell higher by 16 percent to $13.14 billion as against $15.88 billion registered in the same period of 2022.
Pakistani textile exports have fallen 15 percent in January 2022, 30 percent in February, 23 percent in March, 29 percent in April, 20 percent in May, 14 percent in June, 11 percent in July, 7 percent in August and 11 percent in September 30.
“It is a matter of pride that due to collective efforts, we are observing positive trends related to a significant reduction in our trade deficit,” Gohar Ejaz, Commerce and Industries Minister said.
