Textile exports decrease by 28.7% YoY in April: APTMA
MG News | May 03, 2023 at 10:57 AM GMT+05:00
May 03, 2023 (MLN): Textile exports in the month of April 2023 slumped by 28.7% YoY to $1.24 billion, the 7th consecutive YoY decline, compared to $1.74bn in April 2022, according to the statistics released by the All Pakistan Textile Mills Association (APTMA) on Tuesday.
Within 10MFY23, the exports of textiles stood at $13.71bn, decreasing by 14.2% YoY compared to 15.97bn in 10MFY22.
Amidst economic slowdown in the country’s major export market, energy shortages, and frequent closure of local manufacturing units, the total exports registered a decrease of 26.68% YoY and 10.46% MoM to $2.12bn during the review period, as per the data reported by the Pakistan Bureau of Statistics (PBS) on the same day.
Cumulatively, within 10MFY23, total exports dropped by around 12% YoY to $23.17bn as against $26.25bn in 10MFY22.
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