Textile exports jump to $7.6bn
ISLAMABAD: The textile and clothing exports increased 10.51 per cent in the first five months of the current fiscal year, Pakistan Bureau of Statistics data showed on Tuesday.
After contracting 3.09pc in the first month of 2024-25 in July, the textile exports maintained a bullish trend with robust growth of 13pc in August, 17.92pc in September, 13.11pc in October, and 10.81pc in November, respectively.
Many experts believe it would take a lot of struggle for the sector to compete with regional rivals due to the implementation of harsh taxation measures in the current fiscal year. However, the disruption in supply from Bangladesh has also boosted demand for Pakistani garments.
Textile and clothing exports have been static for the last two years despite having a $25 billion installed capacity due to structural issues, according to textile players.
In absolute terms, the textile and clothing exports rose 10.61pc to $7.61bn in July-November FY25 from $6.88bn in the corresponding period last year.
The government has introduced various measures, including increasing the tax rate on exporters’ personal income in 2024-25.
The PBS data showed exports of readymade garments rose 23.10pc in value and 13.61pc in quantity during 5MFY25, while knitwear rose 18.42pc in value and 8.87pc in quantity. Bedwear grew 15.05pc in value and 14.86pc in quantity.
Towel exports rose 7.08pc in value and 6.90pc in quantity 5MFY25, whereas cotton cloth went up 4.18pc in value and contracted 2.09pc in quantity, respectively.
Yarn exports dipped 38.70pc in 5MFY25. The exports of made-up articles, excluding towels, increased by 11.61pc, and tents, canvas and tarpaulin went up by 9.63pc in 5MFY25. No export of raw cotton was recorded during the period under review.
The import of synthetic fibre shrank 18.20pc, and the arrival of synthetic and artificial silk yarn increased by 4.30pc. However, other textile items’ import increased by 68.73pc the period under review.
The import of raw cotton surged 104.33pc from a year ago. However, the import of second-hand clothes grew 20.22pc.
In July-November FY25, the country’s total exports increased by 12.82pc to $13.72bn, up from $12.16bn in the same months last year.
Published in Dawn, December 18th, 2024