Pic: Adobe Stock The sector contributed 57.51 per cent to Pakistan's total exports of $5.069 billion in July-August 2024, a decline from its 62.45 per cent share in the same period of the 2023-24 fiscal.
Pakistan's textile and apparel exports grew by 5.37 per cent to $2.915 billion in the first two months of fiscal 2024-25. The sector accounted for 57.51 per cent of its total exports. While exports of knitwear and readymade garments rose, cotton yarn and fabric exports declined. Imports of synthetic fibres dropped, but textile machinery imports surged, indicating new investments in the sector.In terms of categories, knitwear exports increased by 7.15 per cent year-on-year to $820.59 million, while exports of non-knit readymade garments rose by 17.85 per cent to $658.50 million. Cotton yarn exports decreased by 45.21 per cent to $110.59 million, while cotton fabric exports fell by 7.23 per cent to $322.65 million. Bedwear exports increased by 7.61 per cent to $504.75 million.
Regarding imports, synthetic fibre imports decreased by 22.07 per cent year-on-year to $84.11 million. Imports of synthetic and artificial silk yarn fell by 15.73 per cent to $94.92 million. However, Pakistan's imports of textile machinery in August 2024 rose by 38.58 per cent year-on-year to $32.75 million, indicating a revival of new investments in the sector.
In fiscal 2023-24, Pakistan's textile and apparel exports edged up by 0.93 per cent to $16.655 billion. In contrast, exports in fiscal 2022-23 decreased by 14.63 per cent to $16.501 billion, compared to $19.329 billion in fiscal 2021-22.
SBS Zipper News Desk (KUL)
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