Global Rice News

Pakistan’s Textile and Rice Exports Show Significant Growth in January

In January 2024, Pakistan experienced a substantial increase in textile and rice exports. According to official data, textile exports saw a positive upswing, with a 10.1% increase to $1.455 billion compared to the previous year. During the same month, rice exports also rose by 207% to $477.5 million due to increased demand and high prices resulting from India’s rice export ban. Basmati rice exports increased by 64% to $89.4 million, while other varieties’ exports went up by 284% to $388.1 million.

Growth in Exports and Categories

The textile group witnessed growth in various components. Knitwear exports increased by 8.4% to $365 million, bedwear by 19.3% to $252 million, readymade garments by 13.85% to $333.4 million, and towels by 5.4% to $96.1 million. Cotton yarn exports also saw a significant increase of 19.8% to $81.3 million, and cotton cloth exports rose by 0.5% to $159.7 million.

Additionally, the food group experienced growth in key export categories. Vegetable exports increased by 142% to $73 million, fruits by 10.4% to $39.7 million, meat and meat preparations by 37.3% to $48 million, and tobacco by 11.5% to $11.5 million. However, fish and fish preparation exports declined by 17.8% to $30.2 million.

Other notable increases in exports include football by 5.6% to $19.4 million, plastic materials by 103% to $36.3 million, engineering goods by 14.95% to $25.2 million, and footwear by 6.14% to $17.6 million. On the other hand, pharmaceutical exports fell by 31.4% to $98.1 million, cement exports decreased by 1.98% to $14.7 million, and surgical goods exports went down by 5.7% to $37.7 million.

Petroleum and Machinery Imports

In terms of imports, the petroleum group remained stable, with total imports of $1.326 billion. However, petroleum products imports declined by 37.8% to $427.5 million. Meanwhile, imports of crude increased by 13% to $366.5 million, LNG by 83.35% to $445 million, and LPG by 22.3% to $87.3 million.

Machinery imports showed substantial growth, with a 50.2% increase to $750.4 million. Notably, agriculture machinery imports rose by 394% to $12 million, and electrical machinery and apparatus imports increased by 89% to $280.5 million. Additionally, telecom machinery and other apparatuses saw a significant increase of 197% to $232.7 million, mostly attributed to mobile sets imports.

In the transport sector, total imports fell by 3.9% to $135.5 million. However, imports of completely built units (CBU) of buses, trucks, and other heavy vehicles experienced a 140% increase to $39.5 million. On the other hand, imports of cars, motorcycles, buses, trucks, and other heavy vehicles in CKD/SKD models were down by 27.5% to $50.7 million.

Conclusion

Pakistan’s textile and rice exports have shown remarkable growth in January 2024, driven by strong international demand and favorable prices. While textile exports saw overall growth, specific categories like knitwear, bedwear, and readymade garments performed exceptionally well. The rise in rice exports was primarily due to increased demand and higher prices resulting from India’s export ban. These positive trends indicate the strength of Pakistan’s export sector and its ability to capitalize on global market opportunities.

Source: The News