Pakistan’s textile exports fell by 8% in the first seven months of FY23

The Pakistan Bureau of Statistics (PBS) reported that during the first seven months (July-January) of the current fiscal year 2022–23 (FY23), Pakistan's textile group exports decreased by roughly 8.17 percent and totaled $10.039 billion as opposed to $10.933 billion during the same period the previous year.

According to data on exports and imports issued by PBS, the nation's exports of textiles decreased 14.83 percent year over year (YoY) in January 2023 to $1.321 billion from $1.551 billion in the same month last year.

In comparison to $1.356 billion in December 2022, the textile group experienced negative growth of 2.53 percent month over month (MoM).

Exports of cotton yarn experienced a 34.66 percent decline from the same period last year, falling to $449.419 million from $687.857 million. Cotton yarn exports experienced a 12.34 percent decline year over year while growing by 27.22 percent month over month.

In the first seven months of fiscal year 2022–23, rice exports fell by 15.82 percent to $1.083 billion from $1.286 billion in the corresponding period of the previous fiscal year.