December 18, 2024 (MLN): The country's total textile exports increased by 10.81% to $1.46bn in November compared to $1.32bn in the same month last year, data released by the Pakistan bureau of statistics (PBS) showed.
Likewise, on a month-on-month basis, the exports of the same group registered a decrease of 10.14% compared to exports worth $1.62bn in October.
Cumulatively in 5MFY25, the textile exports increased by 10.51% to $7.6bn compared to $6.88bn in 5MFY24.
The total exports as per BOP for November clocked in at $2.83bn, up by 10.14% compared to $2.57bn in November 2023. Likewise, on a monthly basis, exports fell by 4.99%.
In November 2024, Textile Group products remained the major exportable goods for Pakistan as this group accounted for 51.6% of the total exports.
During the review month, key contributing products under the textile head were Knitwear ($413.94mn), Readymade Garments ($328.66mn), and Bed Wear ($254.32mn).
Knitwear exports rose by 17.3%, Readymade Garments exports increased by 14.5%, and the inflow of foreign currency through Bed Wear moved up by 23.7%.
The food group remained the second most contributing group in total exports. The export value of this group stood at $789.99mn, showing a growth of 13.6% compared to $695.6mn in November 2023. On a monthly basis, the exports from the respective group rose by 5.55% compared to $748.43mn in October 2024.
Collectively in 5MFY25, the earnings from food group exports increased by 19.58% to $3.16bn compared to $2.63bn in 5MFY24.
Under this group, Rice remained the major source of foreign exchange earnings as the export value of the commodity during November 2024 stood at $431.37mn marking an increase of 19.06% MoM and 5.6% YoY.
The export of Oil Seeds, Nuts, and Kernels stood at $53.18mn in November, down 43.8% MoM while up 22.38% YoY.
Other manufactures was the third most contributing group in total exports. The export value of this group stood at $328.53mn, showing an expansion of 1.91% compared to $322.38mn in November 2023. On a monthly basis, the exports from the respective group inched down by 12.34%.
In this group, carpets, rugs, and mats’ foreign earnings dropped by 14.91% YoY to $5.84mn in November 2024.
However, when compared with the figure of $4.67mn in October 2024, the export carpets, rugs, and mats’ has increased by 25.3% MoM.
Inflow through the chemical and pharmaceutical products fell by 4.58% YoY to $120.73mn in November 2023 compared to $115.21mn in SPLY.
The data further shows that the share of the Petroleum group and coal in the country’s total export basket was only 2.05% in November 2024.
During the review period, the country earned $58.14mn from exports of petroleum products, increasing by 31.76% YoY.
Copyright Mettis Link News
Posted on: 2024-12-18T14:34:30+05:00
