Saturday, July 20, 2024

Pakistan Records Textile Exports of $1.48 Billion, Highest in 11 Months

Textile exports in August 2023 took a 6% YoY dip, dropping to $1.48 billion from $1.58 billion in August 2022, as per statistics released by the All Pakistan Textile Mills Association (APTMA).

However, looking at it month-on-month, textile exports actually increased by 12.9% compared to the $1.31 billion recorded in the previous month. This marks the highest level of textile exports since September 2022 when it reached $1.53 billion.

For the first eight months of the year (8MCY23), textile exports totaled $10.58 billion, showing a 19% YoY decrease compared to $13 billion in the same period in 8MCY22.

It’s worth noting that Pakistan’s overall exports in August 2023 increased by 14.27% compared to July 2023, reaching $2.26 billion. However, when compared to August 2022, exports declined by 4.83% YoY, according to data from the Pakistan Bureau of Statistics (PBS) released on September 1.

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