The value of textile and garment exports from Pakistan decreased by 14.63 percent in fiscal 2022-23 (July-June). During this period, Pakistan earned $16.501 bn from textile and apparel exports, compared to $19.329 bn in 2021-22, as per data released by the Country’s Ministry Of Commerce.
Pakistan’s textile and garment exports had been experiencing numerous challenges during the last fiscal. The global economic slowdown has adversely affected textile exports for major supplier countries, including Pakistan. Additionally, political unrest within the country has also disrupted economic activities.
The exports of textiles contributed 59.50 percent in Pakistan’s total goods exports of $27.734 billion during the last fiscal. The share was 60.89 percent in the total exports of $26.246 bn during fiscal 2021-22.
Category-wise, knitwear exports slipped by 21.10 percent year-on-year to $4,436.78 mn during the period under review, while exports of non-knit readymade garments were down 10.57 percent to $3,491.95 mn.
As for textiles, cotton yarn exports decreased by 30.04 percent to $844.24 mn, while exports of cotton fabric fell 17.06 percent to reach $2,022.00 mn in July-June 2023. Bedwear exports declined by 18.26 percent to $2,691.65 mn during this period, the data showed.
On the import front, synthetic fibre imports decreased by 34.77 percent year-on-year to $484.53 mn, while imports of synthetic and artificial silk yarn dropped by 33.65 percent to $583.07 mn during the same period.
Meanwhile, the value of textile machinery imports by Pakistan in July-June 2023 decreased significantly by 57.03 percent year-on-year to $328.62 mn, showing a drop in new investments.
In fiscal 2021-22 ended June 30, textile and garment exports from Pakistan increased by 25.53 percent to $19.329 bn over $15.399 bn in the previous fiscal. In fiscal 2019-20, the exports amounted to $12.526 bn.