Islamabad May 21 2023: Pakistan textile exports plunged 29.11 percent in April 2023 to USD 1,232 million compared with USD 1,739 million in the same month last year, revealed by the Pakistan Bureau of Statistics (PBS).
On a month-on-month (MoM) basis, the textile goods’ exports decreased by 1.99 percent in April 2023 against USD 1,257 million in March 2023, according to the PBS data.
“USD 5 billion of investment resulted in USD 7 billion of export increase. Since that expanded capacity is closed now, exports contiune to decline. Govt was requested to give us Regionally Competetive Energy Tariffs (RCET) – once came into force, our exports went up from USD 12.3 billion to USD 19.3 billion. But since 1st March 23, RCET has been withdrawn” says Dr Gohar APTMA chief.
Textile exports reached USD 13,709 during the first ten months of the current fiscal year (2022-23), showing a decline of 14.22 percent from USD 15,981 million during the same period of last year (July-April 2021-22).
The export of raw cotton witnessed positive growth during July-April (2022-23) of 103 percent from USD 6.577 million (last fiscal year) to USD 13.5 million, and that of tents, canvas and tarpaulin went up by 28 percent from USD 91.3 million to USD 116.9 million.
On the other hand, the export of cotton yarn showed negative growth by 36.7 percent from USD 1,006 million to USD 636 million.
Likewise, the export of cotton cloth decreased by 16.0 percent from USD 2,005 million to USD 1,684 million; cotton (carded or combed) by 38.9 per cent from USD 1.6 million to USD 1.0 million, yarn (other than cotton yarn) by 32.8 per cent from USD 54 million to USD 36 million, knit-wear by 11.9 per cent from USD 4,217 million to USD 3,712 million, bed wear by 17.5 percent from USD 2,727 million to USD 2,249 million and towels by 11.1 percent, from USD 927- million to USD 825 million.
The export of readymade garments also declined by 9.63 percent from USD 3,214 million to USD 2,904 million; art, silk and synthetic textile by 11.0 percent from USD 385 million to USD 343 million; made-up articles (excluding towels, bedwear) by 17.6 per cent from USD 710 million to USD 585 million, and all other textile materials by 5.3 percent from USD 634 million to USD 601 million.
