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HomeBusinessNovember 2023 Textile Exports Drop 7% to 1.32 Billion in Pakistan

November 2023 Textile Exports Drop 7% to 1.32 Billion in Pakistan

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According to the Pakistan Bureau of Statistics (PBS), the nation’s textile group exports fell by about 6.50 percent in the first five months of the current fiscal year (July-November). They were $6.883 billion, as opposed to $7.361 billion in the same period of 2022–2023.

The total exports of the nation at that time increased by 1.93 percent to $12.172 billion (provisional) from $11.942 billion in the same period last year.

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 According to PBS’s data on imports and exports, textile exports saw a negative 8.26% growth on a month-over-month (MoM) basis in November 2023, reaching $1.318 billion as opposed to $1.437 billion in October 2023. When comparing November 2023 to November 2022, textile exports fell by 7.21 percent year over year (YoY) to $1.420 billion.

November 2023 exports were $2.573 billion (provisional) compared to October 2023 exports of $2.690 billion, indicating a 4.35 percent decline but a 7.70 percent rise above November 2022 exports of $2.389 billion.

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The first five months of the current fiscal year saw a 50.30 percent growth in cotton yarn exports, which came in at $493.277 million as opposed to $328.197 million during the same period the previous year.

Cotton yarn exports increased by 99.88 percent every year to $85.713 million from $42.882 million, but on a month-over-month basis, they experienced a 7% decline from $92.160 million in October 2023.

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