Textile exports slump by 19% YoY in November
Nilam Bano | December 02, 2022 at 04:10 PM GMT+05:00
December 02, 2022 (MLN): Textile exports in November 2022 have decreased by 19% YoY to $1.4 billion compared to $1.7bn in November 2021, data issued by All Pakistan Textile Mills Association (APTMA).
However, on monthly basis, the exports from a similar sector witnessed a growth of 3% MoM against $1.357bn in October 2022.
Cumulatively, in 5MFY22, the textile exports stood at $7.44bn, witnessing a fall of 4% YoY compared to the same period last year.
It is pertinent to mention that this is the second consecutive month that textile exports have dropped mainly on the back of the global economic slowdown that clearly subdued the demand.
In addition to it, energy prices and administrative inefficiencies have also hit the volume of exports.
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