ISLAMABAD (PEN) : Pakistan’s textile and clothing exports bounced back impressively in August, showing a nearly 13% increase compared to the same month last year, according to the latest figures from the Pakistan Bureau of Statistics (PBS).
Exports climbed to $1.64 billion, up from $1.45 billion in August 2022. On a month-to-month basis, the growth was even more striking, with a remarkable 29.4% jump. Over the first two months of the current fiscal year (July-August), exports totaled $2.92 billion, marking a 5.4% rise from the same period last year.
Just a month earlier, in July, the textile sector had faced challenges, with exports dipping by 3.1%. This downturn raised concerns about the industry’s future, especially with growing competition in the region and changes in taxation for fiscal year 2024-25. June had also seen a slight decline of 0.93%, though May had hinted at a recovery.
Looking at the numbers from August, several key categories performed particularly well. Readymade garments saw a substantial boost, with exports rising by 27.8% in value and 7.9% in quantity. Knitwear also experienced a healthy increase of 15.4% in value and 8.1% in quantity. Bedwear exports grew by 15.2% in value, while towels jumped by 15.7% in value and 9.7% in quantity. Cotton cloth exports also increased by 14.1% in value, showcasing the resilience of these sectors.
However, it wasn’t all positive news; yarn exports plummeted by 47.7% compared to August last year, a significant decline that raises questions about the future of this segment.
On the import side, there were mixed results: imports of synthetic fiber fell by 8.3%, and synthetic and artificial silk yarn dropped by 13.6%. Conversely, imports of raw cotton increased by 7.6%, and the demand for second-hand clothes grew by 22% in August.
Overall, Pakistan’s exports across all sectors rose by 16.8% in August, reaching $2.76 billion, a solid increase from $2.36 billion in the same period last year. This growth reflects a resilient spirit in the face of challenges, highlighting the importance of the textile industry to the nation’s economy and livelihoods.
