Pakistan’s May Textile Exports Reach $1.56 Billion, Highest in 21 Months
Published on: June 15, 2024.
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The country’s textile group exports have shown a positive growth of 1.41 percent during the first eleven months (July-May) of the current fiscal year 2023-24, reaching $15.241 billion compared to $15.029 billion in the same period last year, according to the Pakistan Bureau of Statistics (PBS).
According to the data released by PBS, the total exports of the country from July-May, 2023-2024 amounted to $28.117 billion (provisional), reflecting a 10.84 percent increase compared to $25.368 billion in the corresponding period of the previous year.
May’s Performance
In May 2024, the textile group exports saw a notable increase of 18 percent compared to the same month last year, reaching $1.558 billion. This is the highest level of textile exports since August 2022, according to Arif Habib Limited. On a month-on-month basis, the textile group witnessed a growth of 25.94 percent compared to April 2024 ($1.237 billion).
The exports of cotton yarn also showed significant growth, with a 23.47 percent increase during July-May, amounting to $910.193 million compared to $737.185 million in the same period last year. On a year-on-year basis, cotton yarn exports experienced a negative growth rate of 35.96 percent, but on a month-on-month basis, it registered a growth rate of 18.77 percent.
According to the provisional figures compiled by the Pakistan Bureau of Statistics, the exports in May 2024 amounted to $2.840 billion (provisional), showing an increase of 20.80 percent compared to April 2024 ($2.351 billion) and a 29.27 percent increase compared to May 2023 ($2.197 billion).
Pakistan Rice Exports Reach Milestone
Pakistan rice exports in the eleven months reached a remarkable milestone, touching 5.593 million tons during July-May. In the same period the previous year, rice exports amounted to around 3.517 million tons, showing an impressive increase of 81.23 percent. The revenue generated from rice exports amounted to $3.628 billion, a significant growth compared to $2.001 billion in the same period of the last fiscal year.
Main Commodities of Exports in May 2024
- Knitwear – Rs. 115,022 million
- Readymade garments – Rs. 97,564 million
- Bed wear – Rs. 77,184 million
- Rice others – Rs. 75,311 million
- Cotton Cloth – Rs. 48,117 million
- Towels – Rs. 28,768 million
- Petroleum products (excl. Top Naphta) – Rs. 25,393 million
- Rice Basmati – Rs. 20,807 million
- Madeup articles (excl towels & bedwear) – Rs. 18,558 million
- Cotton yarn – Rs. 17,883 million
For more information on rice exports and suppliers in Pakistan, please visit HAS Rice Pakistan and Pakistan Rice.
Source: ProPakistani
