Pakistan’s textile exports drop 3.1% to $1.27bn in July

MG News | August 16, 2024 at 04:01 PM GMT+05:00

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August 16, 2024 (MLN): Pakistan’s textile exports in July 2024 fell by 3.09% to $1.27 billion compared to $1.31 billion in the same period last year, according to the Pakistan Bureau of Statistics (PBS).

Likewise, on a sequential basis, exports dropped significantly by 10.13% as in the previous month, exports stood at $1.41bn.

In July 2024, textile Group products remained the major exportable goods for Pakistan as this group accounted for 55.1% of the total exports.

During the review month, key contributing products under the textile head were Knitwear ($357.69m), Readymade Garments ($295.52m), and bedwear ($214.31m).

Knitwear exports declined by 1.88%, Readymade Garments exports increased by 7.57%, and the inflow of foreign currency through bedwear went 1.2% down compared to the figures of July 2023.

When compared to the previous month, exports from all these subcategories dropped by 16.35%, 9.01%, and 8.61%, respectively.

Other crucial textile exports were Cotton Cloth ($140.15m), towels ($70.09m), Cotton Yarn ($55.75m) and Made-up Articles ($48.06m) in July.

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