Textile exports rise 7% to $1.56bn in Oct

News Image

MG News | November 18, 2024 at 12:08 PM GMT+05:00

0:00

November 18, 2024 (MLN): The country's total textile exports increased by 7.0% to $1.56bn in October compared to $1.45bn in the same month last year, data released by the State Bank of Pakistan (SBP) showed.

Likewise, on a month-on-month basis, the exports of the same group registered an increase of 5.9% compared to exports worth $1.47bn in September.

Cumulatively in 4MFY25, the textile exports increased by 5.1% to $5.81bn compared to $5.52bn in 4MFY24.

The total exports as per BOP for October clocked in at $3.02bn, up by 11.1% compared to $2.72bn in October 2023. Likewise, on a monthly basis, exports rose by 14.7%.

In October 2024, Textile Group products remained the major exportable goods for Pakistan as this group accounted for 51.5% of the total exports.

During the review month, key contributing products under the textile head were Knitwear ($403.75m), Readymade Garments ($359.69m), and Bed Wear ($282.79m).

Knitwear exports rose by 13.1%, Readymade Garments exports increased by 24.2%, and the inflow of foreign currency through Bed Wear moved up by 7.2%.

The food group remained the second most contributing group in total exports. The export value of this group stood at $631.59m, showing a meager growth of 0.1% compared to $631.14m in October 2023. On a monthly basis, the exports from the respective group rose by 29.3% compared to $488.4m in September 2024.

Collectively in 4MFY25, the earnings from food group exports increased by 14.1% to $2.16bn compared to $1.89bn in 4MFY24.

Under this group, Rice remained the major source of foreign exchange earnings as the export value of the commodity during October 2024 stood at $268.82m marking an increase of 36.3% MoM and 4.7% YoY.

The export of Oil Seeds, Nuts, and Kernels stood at $91.82m in October, up 91.5% MoM while down 26.6% YoY.

Other manufacture was the third most contributing group in total exports. The export value of this group stood at $360.1m, showing a contraction of 3.5% compared to $373.29m in October 2023. On a monthly basis, the exports from the respective group inched down by 0.2%.

In this group, sports goods' foreign earnings dropped by 4.9% YoY to $37.25m in October 2024.

However, when compared with the figure of $32.48m in September 2024, the export of sports goods has increased by 14.7% MoM.

Inflow through the chemical and pharmaceutical products fell by 12.5% YoY to $115.61m in October 2023 compared to $132.18m in SPLY.

The data further shows that the share of the Petroleum group in the country’s total export basket was only 3.6% in October 2024.

During the review period, the country earned $108.5m from exports of petroleum products, increasing by 635.7% YoY.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 136,502.54
259.91M
1.64%
2202.77
ALLSHR 85,079.90
838.35M
1.26%
1061.74
KSE30 41,552.62
97.27M
1.81%
738.33
KMI30 193,330.76
84.69M
0.39%
741.60
KMIALLSHR 56,315.31
366.02M
0.43%
243.06
BKTi 38,498.08
37.91M
4.13%
1526.33
OGTi 28,138.38
5.66M
-0.36%
-101.89
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,785.00 120,695.00
119,450.00
-450.00
-0.37%
BRENT CRUDE 69.01 69.17
68.98
-0.20
-0.29%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 106.50 106.60
106.50
-2.20
-2.02%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.75 66.99
66.70
-0.23
-0.34%
SUGAR #11 WORLD 16.31 16.67
16.27
-0.26
-1.57%

Chart of the Day


Latest News
July 14, 2025 at 05:26 PM GMT+05:00

Gold price in Pakistan rises Rs1,600 per tola


July 14, 2025 at 04:59 PM GMT+05:00

Tax reforms focus on public ease, transparency


July 14, 2025 at 04:23 PM GMT+05:00

PSX Closing Bell: Another One Bites the High


July 14, 2025 at 04:06 PM GMT+05:00

PKR falls 25 paisa per USD



Top 5 things to watch in this week

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