Wednesday, May 29, 2024

Pakistan’s Textile Exports Rises 37 percent, Higher ever to $1.69 Billion in February

Official data showed that the country’s textile exports increased by 37% in February to $1.69 billion, the biggest level ever, on the strength of orders captured from competitive nations during the Covid boom.

India and Bangladesh were completely shut down, forcing international purchasers to look for Pakistani exporters. “Instead of complete lockdowns, Pakistan chose smart lockdowns, which helped industry continue their fight against the pandemic,” a renowned textile exporter explained.

According to the latest numbers from the All Pakistan Textile Mills Association (APTMA) and the Pakistan Bureau of Statistics (PBS) compiled by Arif Habib Limited (AHL), textile exports increased by about 37% to $1.69 billion in March from $1.23 billion the previous month.

The textile sector’s exports increased by 9% in January current fiscal year compared to the previous month.

Exports of textile goods increased by 26.2 percent to $12.62 billion in the first eight months of fiscal year 2021-22, compared to $10 billion in the same period the previous year.

Despite a gas scarcity and expensive power, Pakistan’s textile exports have been increasing in recent months, allowing textile exporters to fully realise the textile sector’s potential.

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