Lahore December 2 2022: Pakistan Textile exports decreased by 19 percent as compared to the same period last year, according to APTMA.
Walmart, Target, Macy’s and Kohl’s are among retailers that have recently said they are canceling some orders to better balance inventory levels, a replay of a strategy used at the start of the pandemic.
Other steps retailers are using to clear inventories as spending has slowed on some non-discretionary categories are employing markdowns and packing away products for the following year. The elevated inventory levels also reflect intentional over-buying to mitigate shortages and the easing of supply chain constraints.
Textile exports recorded at USD 1.4 billion compared with USD 1.74 billion in the corresponding period last year. However, textile exports are increased by 3 percent when compared with exports of USD 1.36 billion last year.
In 5MFY23, textile exports are also decreased by 4 percent to USD 7.44 billion when compared with USD 7.76 billion in the same period last year.
As per the latest data released, total exports stood at USD 2,369 million while Imports were USD 5,245 million during November 2022.
The data showed that exports during November 2022 were 0.63 percent lower than exports of October 2022 and 18.34 percent lower compared to exports of November 2021.
Exports during the period from July to November 2022 decreased by 3.48 percent to USD 11,932 million when compared with the same period last year while imports during the same period decreased by 20.15 percent to USD 26,338 million.