Textile exports registered a fall of 17.06% YoY in August: SBP

News Image

By MG News | September 14, 2023 at 11:37 PM GMT+05:00

0:00

September 14, 2023 (MLN): The country's total textile export registered a fall of 17.06% YoY to $1.42bn in August 2023 compared to $1.71bn recorded in the same period of last year, data released by the State Bank of Pakistan (SBP) showed.

While on a monthly basis, the exports of the same group rose by 7.22% MoM in August 2023.

Cumulatively in 2MFY24, the textile exports declined by 13.11% YoY to $2.74bn compared to $3.15bn in 2MFY23.

In August 2023, textile products remained the major exportable goods for Pakistan as this group accounted for 58.45% of the total exports during the review month.

During the month, key contributing products under the textile head were knitwear ($375.64 million), readymade garments ($291.09m), and bed wear ($233.67m), all three heads marked a decline of 11.93% YoY, 14.13% YoY, and 22.37% YoY, respectively when compared to August 2022.

The food group remained the second most contributing group in total exports. The trade value of this group stood at around $392.08m, showing a drop of 9.10% YoY compared to $431.33m in August 2022.

Conversely, on a monthly basis, the exports from the respective group rose by 4.96% MoM compared to $373.55m in July 2023.

Cumulatively in 2MFY24, the earnings from food group exports declined by 6.37% YoY to $765.63m compared to $817.73m in 2MFY23.

Under the same group, rice remained the major source of foreign exchange earnings as the export value of rice during August 2023 stood at $125.24m marking a decline of 4.28% MoM and 35.37% YoY.

The export of fish & fish preparations stood at $24.83m in August 2023, down by 6.43% YoY and 30.14% MoM compared to $26.53m in August 2022 and $35.53m in July 2023 respectively.

Exports of surgical goods & medical instruments declined by 5.98% YoY to clock in at $36.21m.

However, surgical exports rose by 2.19% MoM compared to $35.43m worth of exports in July 2023.

Similarly, the exports of leather manufacturers fell by 11.26% YoY but rose by 4.20% MoM to $52.90m in August 2023.

Additionally, the export of sports goods dropped by 19.55% MoM to $30.10m in August 2023.

The exports of chemical and pharmaceutical products surged by 29.79% MoM to $121.75m in August 2023 compared to $93.80m in July 2023.

While on a yearly basis, the export of the same commodity decreased by 9.15% YoY.

Moreover, the share of the Petroleum group in the country’s total export basket was only 1.22% in August 2023.

During the period, the country earned $29.45m from exports of petroleum products, significantly up by 6.10x YoY and 2.05x MoM.

The total exports as per BOP for August clocked in at $2.42bn, up by 14.24% MoM compared to $2.12bn in July 2023.

On the other hand, the total exports on a yearly basis fell by 11.42% YoY.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,963.47
48.70M
0.21%
276.81
ALLSHR 81,532.31
259.99M
0.28%
227.06
KSE30 40,040.88
24.79M
0.24%
95.43
KMI30 191,039.19
28.47M
0.18%
341.14
KMIALLSHR 55,114.73
126.36M
0.07%
40.57
BKTi 34,818.51
3.82M
0.72%
250.11
OGTi 28,581.20
2.33M
-0.55%
-158.15
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,775.00 110,525.00
109,600.00
-640.00
-0.58%
BRENT CRUDE 68.59 68.89
68.42
-0.21
-0.31%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 108.45 109.80
108.45
-0.55
-0.50%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.89 67.18
66.72
-0.11
-0.16%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 04, 2025 at 11:07 AM GMT+05:00

Saudi Riyal available at PKR 76.4 in open market


July 04, 2025 at 10:45 AM GMT+05:00

Pakistan charts AI roadmap for key development sectors


July 04, 2025 at 09:49 AM GMT+05:00

Lucky Cement achieves historic export milestone


July 04, 2025 at 09:40 AM GMT+05:00

NBP issues foreign exchange rates



Top 5 things to watch in this week

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