August 18, 2023 (MLN): The country's total textile export registered a fall of 11.40% YoY to $1.31bn in July 2023 compared to $1.48bn recorded in the same period of last year, data released by the Pakistan Bureau of Statistics (PBS) showed.

While on a monthly basis, the exports of the same group fell by 10.89% MoM in July 2023.

In July 2023, textile products remained the major exportable goods for Pakistan as this group accounted for 63.43% of the total exports during the review month.

During the month, key contributing products under the textile head were knitwear ($364.54 million), readymade garments ($274.73m), and bedwear ($216.91m), all three heads marked a decline of 16.13% YoY, 9.80% YoY, and 14.60% YoY, respectively when compared to July 2022.

The food group remained the second most contributing group in total exports. However, the trade value of this group stood at around $329.16m, showing a drop of 8.81% MoM and 7.56% YoY compared to $360.96m in June 2023 and $356.07m in July 2022.

Under the same group, rice remained the major source of foreign exchange earnings as the export value of rice during July 2023 stood at $117.10m marking a decline of 22.50% MoM and 15.78% YoY.

Meanwhile, the export of fish & fish preparations stood at $18.98m in July 2023, increasing by 2.20% YoY while on a monthly basis, the exports of fish registered decreased by 52.12% MoM.

Exports of surgical goods & medical instruments declined by 15.92% MoM to clock in at $33.98m.

Similarly, the exports of leather manufactured fell by 17.34% MoM to $44.72m.

Additionally, the export of sports goods dropped by 23.85% MoM to $26.09m in July 2023.

The exports of chemical and pharmaceutical products fell to $103.37m, down by 0.87% MoM. While on a yearly basis, the export of the same commodity increased by 25.72% YoY.

Moreover, the share of the Petroleum group in the country’s total export basket was only 0.12% in July 2023. During the period, the country earned $791.43m from exports of petroleum products.

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Posted on: 2023-08-19T16:04:10+05:00