Wednesday, October 23, 2024

Pakistan’s Textile Exports Increase by 10.2% to $1.47 Billion

In September 2024, Pakistan’s textile exports saw a notable increase, rising by 10.2% to reach $1.47 billion, compared to $1.33 billion in the same month last year, according to data from the State Bank of Pakistan.

On a month-to-month basis, textile exports also grew by 4.4%. During the first quarter of the fiscal year 2025, total textile exports amounted to $4.25 billion, marking a 4.5% increase compared to the same period last year. This shows that the textile sector is playing a major role in Pakistan’s export market, accounting for 55.6% of the country’s total exports.

Key products driving this growth include knitwear, ready-made garments, and bed linens. These items have continued to perform strongly, contributing significantly to the overall success of the sector.

On the other hand, the food sector saw a slight drop in exports. The total value of food exports for September stood at $488.4 million, showing a small decrease compared to the previous figures. Despite this, the textile industry remains the backbone of Pakistan’s export economy and continues to recover and grow, even as other sectors face challenges.

The consistent rise in textile exports highlights its importance to Pakistan’s economy, showing that this sector remains a key driver of economic activity and foreign exchange earnings.

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