Pakistan's textile & apparel exports up 5% to $2.9 bn in July-Aug

The sector contributed 57.51 per cent to Pakistan's total exports of $5.069 billion in July-August 2024, a decline from its 62.45 per cent share in the same period of the 2023-24 fiscal.

In terms of categories, knitwear exports increased by 7.15 per cent year-on-year to $820.59 million, while exports of non-knit readymade garments rose by 17.85 per cent to $658.50 million. Cotton yarn exports decreased by 45.21 per cent to $110.59 million, while cotton fabric exports fell by 7.23 per cent to $322.65 million. Bedwear exports increased by 7.61 per cent to $504.75 million.

Regarding imports, synthetic fibre imports decreased by 22.07 per cent year-on-year to $84.11 million. Imports of synthetic and artificial silk yarn fell by 15.73 per cent to $94.92 million. However, Pakistan's imports of textile machinery in August 2024 rose by 38.58 per cent year-on-year to $32.75 million, indicating a revival of new investments in the sector.

In fiscal 2023-24, Pakistan's textile and apparel exports edged up by 0.93 per cent to $16.655 billion. In contrast, exports in fiscal 2022-23 decreased by 14.63 per cent to $16.501 billion, compared to $19.329 billion in fiscal 2021-22.

ALCHEMPro News Desk (KUL)