Pakistan’s Knitwear Exports See Impressive 25.54% Surge
Published on: October 20, 2023.
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Pakistan’s Exports Surge by 25.54% in Q1 of Fiscal Year 2023-24
According to the Pakistan Bureau of Statistics (PBS), Pakistan’s exports, denominated in rupees, experienced a significant increase of 25.54% during the first quarter (Q1) of the fiscal year 2023-24 compared to the previous year.
Between July and September 2023, Pakistan’s exports reached Rs2,013,533 million, marking a 25.54% boost from the same period in the previous year, according to PBS’s provisional data.
Analyzing the year-on-year figures, exports in September 2023 surged by 31.27%, totaling Rs737,295 million, compared to Rs561,643 million in September 2022.
On a month-to-month basis, exports grew by 6.06%, reaching Rs737,295 million in August 2023.
The key export categories in August 2023 included knitwear (Rs103,029 million), readymade garments (Rs74,608 million), bed wear (Rs69,234 million), cotton cloth (Rs51,891 million), oil seeds, nuts, and kernels (Rs46,571 million), cotton yarn (Rs33,815 million), rice and others (Rs32,324 million), towels (Rs25,116 million), rice basmati (Rs19,008 million), and miscellaneous articles, excluding towels and bed wear (Rs16,922 million).
On the other hand, imports during July to September 2023 (FY2023-24) totaled Rs3,560,763 million, showing a decrease of 2.45% compared to the same period in the previous year.
In a year-on-year comparison, imports into Pakistan during September 2023 amounted to Rs1,189,167 million, a 2.52% decline from September 2022.
Month-on-month data indicated a 10.62% increase in imports in September 2023 compared to August 2023.
The key imported commodities in September 2023 included petroleum products (Rs162,087 million), petroleum crude (Rs146,179 million), liquefied natural gas (Rs75,331 million), palm oil (Rs61,388 million), plastic materials (Rs49,628 million), electric machinery and apparatus (Rs44,699 million), iron and steel (Rs44,191 million), mobile phones (Rs37,093 million), iron and steel scrap (Rs27,299 million), and pulses/leguminous vegetables (Rs22,208 million).
Pakistan’s rice exporters, such as those from Has Rice (https://www.hasrice.com) and Pakistan Rice (https://www.pakistanrice.com), have played a significant role in the country’s export growth. Exporters of white broken rice, like Has Rice (https://www.brokenrice.com), have contributed to the overall success of Pakistan’s rice industry.
Companies like Has Rice (https://www.hasrice.com) have established themselves as reliable rice suppliers in Pakistan, and they play a vital role in the rice business in the country. Additionally, Pakistan’s rice mills, including those linked to Has Rice suppliers (https://www.hasrice.com), have contributed to the growth of the industry.
Pakistani rice prices, including IRRI 6 rice prices, basmati rice price list, and more, can be found on platforms like Has Rice (https://www.hasrice.com/pakistan-rice-prices/). These platforms provide updated information on rice prices and assist in facilitating rice exports from Pakistan.
To explore more about the rice industry in Pakistan, including rice exporters and suppliers, you can visit websites like Has Rice (https://www.hasrice.com), Pakistan Rice (https://www.pakistanrice.com), and Broken Rice (https://www.brokenrice.com).
Overall, Pakistan’s exports have shown remarkable growth in the first quarter of the fiscal year 2023-24, and with the efforts of rice exporters and suppliers, the country’s rice industry continues to play a crucial role in its economic development.
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