Textile exports registered a fall of 34.30% YoY in June: SBP

News Image

MG News | July 19, 2023 at 12:52 PM GMT+05:00

0:00

July 19, 2023 (MLN): The country's total textile export registered a fall of 34.30% YoY to $1.18bn compared to $1.80bn recorded in the same period of last year, data issued by the State Bank of Pakistan showed.

While on a monthly basis, the exports of the same group increased by 10.65% MoM in June 2023.

Cumulatively, the exports of the textile group clocked in at $16.62bn in FY23, marking a decline of 9.84% YoY, as compared to $18.44bn in FY22.

In June 2023, textile products remained the major exportable goods for Pakistan as this group accounted for 55.83% of the total exports during the review month.

During the month, key contributing products under the textile head were knitwear ($302.69 million), readymade garments ($241.25m), and bedwear ($195.90m), all three heads marked a decline of 27.70% YoY, 33.41% YoY, and 34.33% YoY, respectively when compared to June 2022.

The food group remained the second most contributing group in total exports. However, the trade value of this group stood at around $375.16m, showing a drop of 15.61% MoM and 36.21% YoY compared to $588.08m in June 2022.

Under the same group, rice remained the major source of foreign exchange earnings as the export value of rice during June 2023 stood at $161.71m marking a decline of 22.85% MoM and 50.25% YoY compared to $325.05m in June 2022.

Meanwhile, the export of fish & fish preparations stood at $40.37m in June 2023, declining by 7.64% YoY while on a monthly basis, the exports of fish registered decreased by 23.61% MoM. In FY23, exports of fish reported a decline of 10.53% to $483.71m compared to the same period last year.

Exports of surgical goods & medical instruments declined by 2.07% MoM to clock in at $38.01m while the exports of leather manufactured rose by 20.08% MoM to $52.26m. Meanwhile, the export of sports goods dropped by 16.67% MoM to $35.34m in June 2023.

The exports of chemical and pharmaceutical products increased to $123.68m, up by 19.36% MoM. While on a yearly basis, the export of the same commodity decreased by 30.27% YoY.

Cumulatively, in FY23, the exports of chemical and pharmaceutical products, leather manufacturers, and surgical goods and medical instruments manufactured products saw a decrease of 4.1%, 3.45%, and 4.19% YoY, respectively.

Moreover, the share of the Petroleum group in the country’s total export basket was only 1.38% in June 2023. During the period, the country earned $29.42m from exports of petroleum products.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 169,911.95
405.31M
0.83%
1392.01
ALLSHR 101,374.61
947.58M
1.04%
1046.92
KSE30 51,473.16
179.83M
1.09%
554.79
KMI30 246,056.32
173.35M
0.99%
2408.81
KMIALLSHR 66,195.48
466.66M
0.98%
640.12
BKTi 46,597.07
53.39M
0.51%
235.53
OGTi 35,201.74
24.03M
2.40%
825.30
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 74,830.00 75,310.00
74,645.00
-680.00
-0.90%
BRENT CRUDE 98.20 98.67
97.94
-1.19
-1.20%
RICHARDS BAY COAL MONTHLY 103.25 0.00
0.00
0.15
0.15%
ROTTERDAM COAL MONTHLY 103.50 0.00
0.00
0.35
0.34%
USD RBD PALM OLEIN 1,175.00 1,175.00
1,175.00
0.00
0.00%
CRUDE OIL - WTI 89.87 90.26
89.57
-4.82
-5.09%
SUGAR #11 WORLD 13.67 13.77
13.55
0.16
1.18%

Chart of the Day


Latest News
April 17, 2026 at 07:22 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


April 16, 2026 at 11:53 PM GMT+05:00

Trump to visit Islamabad as Iran deal nears completion


April 16, 2026 at 09:36 PM GMT+05:00

SCRA balance falls by Rs82m during week


April 16, 2026 at 09:33 PM GMT+05:00

SBP reserves fall $1.32bn to $15.08bn


April 16, 2026 at 09:29 PM GMT+05:00

Al-Ghazi Tractors hits 600,000 units at DG Khan plant



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg