Global Rice News

ISLAMABAD: Pakistan’s textile group exports have shown a growth of 1.41 percent during the first 11 months of the current fiscal year 2023-24, reaching $15.241 billion compared to $15.029 billion in the same period last year, according to data released by the Pakistan Bureau of Statistics (PBS).

The overall exports of the country from July to May 2023-2024 amounted to $28.117 billion (provisional), an increase of 10.84 percent compared to $25.368 billion during the corresponding period of the previous year.

In May 2024, textile group exports witnessed a growth of 18 percent on a year-on-year basis, reaching $1.558 billion compared to $1.320 billion in the same month last year. On a month-on-month (MoM) basis, the textile group registered a growth of 25.94 percent compared to $1.237 billion in March 2024.

During July to May, cotton yarn exports registered a growth of 23.47 percent, reaching $910.193 million compared to $737.185 million in the same period last year. On a year-on-year basis, cotton yarn exports recorded a negative growth of 35.96 percent, while on a MoM basis, it grew by 18.77 percent.

In May 2024, exports reached $2.840 billion (provisional) compared to $2.351 billion in April 2024, marking an increase of 20.80 percent over April 2024 and a growth of 29.27 percent compared to $2.197 billion in May 2023.

In a major milestone, Pakistan’s rice exports in the first 11 months reached 5.593 million tons, up from 3.517 million tons in the same period last year, reflecting an increase of 81.23 percent. Rice exports generated revenue of $3.628 billion, a significant jump from $2.001 billion in the same period of the previous fiscal year.

The main commodities of exports in May 2024 included knitwear, readymade garments, bed wear, rice others, cotton cloth, towels, petroleum products (excluding Top Naphta), rice basmati, made-up articles (excluding towels and bedwear), and cotton yarn.

Source