Textile exports fall by 29.11% YoY in April: PBS

May 22, 2023 (MLN): Pakistan's textile exports have decreased to $1.232 billion in April 2023, showing a drop of 29.11% YoY and 1.99% MoM, the latest data released by the Pakistan Bureau of Statistics (PBS) showed.

Cumulatively, in 10MFY23, the textile exports stood at $13.709bn, witnessing a drop of 14.22% YoY compared to the same period last year.

In April 2023, raw cotton, ready-made garments, and art, silk and synthetic textile went down by 47.22% MoM, 20.88% MoM, 10.49% MoM, and 7.89% MoM to $0.37 million, $247.42m, and $33.4m.

On the other hand, bedwear exports increased by 10.77% MoM, knitwear by 3.31% MoM, and towels by 1.02% MoM.

While on a yearly basis, ready-made garments and knitwear exports nosedived by 29.45% YoY and 34.02% YoY respectively.

On the other hand, raw cotton exports surged by 100% YoY.

Likewise, food exports also recorded a slump of 21.34% MoM, and 9.18% YoY to $463.13m in the month of April as compared to $588.76m exports recorded in March 2023.

In the food group, exports of oil seeds, nuts & kernals, fruits, and rice exports witnessed a decline of 63.65% MoM, 36.73% MoM, and 8.12% MoM to clock in at $15.25m, $6.31m, and $223.85m respectively in April 2023.

On a yearly basis, a major decline was reported in fruits and rice by 63.15% YoY, 13.79% YoY, and 21.59% YoY, respectively.

As per the data, petroleum exports in April 2023 were reduced by 98.13% MoM and 99.86% YoY to $62m as compared to $45.18m recorded in April 2022.

Going into details made available by PBS, the other manufacturer’s group observed a 15.81% MoM, and a 24.82% YoY decline in exports during April 2023 to $275.14m.

Under this group, footwear exports stood at $9.89m, down by 26.09% YoY against $13.39m in April 2022, and chemical and pharmaceuticals exports plunged by 46.44% YoY to $81.86m in April 2023.

Similarly, exports of sports goods also fell by 9.01% YoY to $32.65m in the review period.

In the same month, carpets, rugs & mats, leather tanned, and leather manufacturers exports went down by 11.29% YoY, 23.29% YoY, and 19.02% YoY to stand at $6.79m, $14m, and $41.74m, respectively.

The exports of engineering goods inched down by 7.85% YoY, to stand at $20.69m as compared to $23.76m exports in March 2023 whereas, on a monthly basis, it reduced by 12.93% MoM in the said period.

Commodity-wise, electric fans, transport equipment, electrical machine, and auto parts and accessories exports clocked in at $4.46m, $2.67m, $2.45m, and $1.4m.

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