Textile exports decline by 13% MoM in July: PBS

August 16, 2022 (MLN): Pakistan’s textile exports stood at $1.48 billion in the first month of FY23, down by 13.2% MoM, compared to $1.71bn in the same month last fiscal year, the latest data released by the Pakistan Bureau of Statistics (PBS) showed.

While on year-on-year, textile exports inched higher by 0.67% against $1.47bn recorded in July 2021.

As per the data, during the month, a major decline was witnessed in the Value-added division on a sequential basis as the export of knitwear, bedwear, and readymade garments dropped by 8.4%, 10.6% and 17.4% to $434mn, $253mn and $304mn respectively.

Meanwhile, the country exported food commodities worth $358mn during July 22, registering a fall of 28% MoM from $499mn in the previous month.

Commodity-wise, rice, fish & fish preparations and fruits, which are the primary sources of foreign exchange earnings during the review period saw a decline of 41%, 54% and 28%, MoM, to value at $138mn, $18mn, and $34mn, respectively.

The export value of meat and meat preparations clocked in at $26mn, down by 15% MoM.

In July 2022, the export of petroleum products plunged by 91% MoM to $3.9mn. It was mainly led by a 99% drop in exports of petroleum crude while export of petroleum products (excl. Top Naphta) went up by 11.6% to stand at $3.5mn during the period under review.

Going into details made available by PBS, the other manufactures group observed a 36% MoM decrease in exports during July 2022 to $277mn. Under this group, the trade value of sports goods stood at $29mn, down by 19% MoM.  The country earned $50mn through the export of leather manufactures, showing a decline of 7% MoM.

Meanwhile, the exports of chemical and pharmaceutical products came down by 59% to peg at $82mn during July 22. The major chunk of exports under the chemical and pharma group during the said period was mainly from the other chemicals and plastic materials which clocked in at $45mn and $24mn, respectively.

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