Pakistan’s Textile Exports Up 1.41% In July-May FY24
Pakistan’s textile exports increased by approximately 1.41% during the first eleven months (July-May) of the fiscal year 2023-24, reaching US$ 15.24 billion compared to US$ 15.03 billion in the same period last year, according to the Pakistan Bureau of Statistics (PBS).
PBS data on exports and imports revealed that the country’s exports from July to May 2023-2024 totaled US$ 28.12 billion (provisional), a 10.84% increase from US$ 25.37 billion in the corresponding period last year.
Textile exports surged by 18% year-on-year in May 2024, reaching US$ 1.56 billion compared to US$ 1.32 billion in May 2023. According to Arif Habib Limited, May’s textile exports were the highest since August 2022. On a month-on-month basis, the textile group registered a 25.94% growth from US$ 1.24 billion in April 2024.
Cotton yarn exports grew by 23.47% during July-May, totaling US$ 910.19 million compared to US$ 737.19 million in the same period last year. However, on a year-on-year basis, cotton yarn exports declined by 35.96%, while on a month-on-month basis, they grew by 18.77%.
According to provisional figures compiled by PBS, exports in May 2024 were US$ 2.84 billion (provisional), showing a 20.80% increase over April 2024’s US$ 2.35 billion and a 29.27% increase compared to May 2023’s US$ 2.20 billion.
