The country’s textile group exports increased by around 1.41 percent during the first eleven months (July-May) of the current fiscal year 2023-24 and remained at $15.241 billion as compared to $15.029 billion during the same period of last year, the Pakistan Bureau of Statistics (PBS) said.
The data of exports and imports released by PBS revealed that the country’s exports during July–May, 2023-2024 totalled $28.117 billion (provisional) against $25.368 billion during the corresponding period of last year showing an increase of 10.84 percent.
May’s performance
Textile group exports witnessed an increase of 18 percent in May 2024 on a year-on-year basis and stood at $1.558 billion compared to $1.320 billion during the same month of last year. According to Arif Habib Limited, the textile exports in May were the highest since August 2022.
On a month-on-month (MoM) basis, the textile group registered 25.94 percent growth compared to $1.237 billion in April 2024.
Cotton yarn exports registered 23.47 percent growth in July-May and remained $910.193 million compared to $737.185 million during the same period of the last year. On a year-on-year basis, cotton yarn exports registered 35.96 percent negative growth, while on a MoM basis, it registered 18.77 percent growth.
According to the provisional figures compiled by the Pakistan Bureau of Statistics, exports in in May 2024 were $2.840 billion (provisional) as compared to $2.351 billion in April, 2024 showing an increase of 20.80 percent over April 2024 and increased by 29.27 percent as compared to $2.197 billion in May 2023.
Pakistan rice exports in eleven months reached a milestone. During July-May rice exports touched to 5.593 million tons. In the same period last year, it was around 3.517 million tons. Rice exports record an increase of 81.23 percent. Rice exports fetched $3.628 billion, during the first eleven months compared to $2.001 billion during the same period of last fiscal year.
Main commodities of exports during May 2024 were Knitwear (Rs. 115,022 million), Readymade garments (Rs. 97,564 million), Bed wear (Rs. 77,184 million), Rice others (Rs. 75,311 million), Cotton Cloth (Rs. 48,117 million), Towels (Rs. 28,768 million), Petroleum products (excl. Top Naphta) (Rs. 25,393 million), Rice Basmati (Rs. 20,807 million), Madeup articles (excl towels & bedwear) (Rs. 18,558 million) and Cotton yarn (Rs. 17,883 million).
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