Textile exports slumps by 18.15% YoY to $1.42bn in November: PBS

December 17, 2022 (MLN): Pakistan’s textile exports decreased to $1.42bn in November’22, plummeted by 18.15% YoY, whereas shows an increase of 4.71% MoM, the latest data released by the Pakistan Bureau of Statistics (PBS) showed.

As per the data, month on month basis, the cotton carded segment remained a major outperformer with an increase of 100% MoM to $0.264mn, tents, canvas & tarpaulin by 86.57% to $14.16mn and yarn by 61.70% to $4.73mn.

Meanwhile, made-up articles also witnessed a jump of 19.95% MoM to $69.38mn.

On a YoY basis, raw cotton carded, raw cotton, and tents, canvas & tarpaulin increased by 325.81%, 100%, and 18.26% YoY, while cotton yarn, bed wear, and cotton cloth decreased by 60.71%, 29.39% and 25.03% respectively.

Going by the data, food exports from the country in November’22 stood at around $434 million, decline by 15.62% YoY, whereas increased by 4.57 MoM from $514mn in November’21 and $415mn in October’22, respectively.

Commodity-wise, rice, fish & fish preparations, meat, oil seeds remained the primary sources of foreign exchange earnings during the review period as their exports were valued at $203.15mn, $51.20mn, $32.57mn and $18.01mn respectively.

The exports of tobacco, meat and, spices witnessed an increase of 35.48%, 11.71% and 1.81% YoY respectively in November, while oil seeds exports went down by 59.89% YoY.

Similarly, the export of petroleum products declined by of 78.31% YoY to $7.22mn in November’22. It was mainly led by exports of petroleum crude, decreased by 100% YoY, and petroleum products (excl. Top Naphta) at $7.21mn, increased by 67.87% YoY.

Going into details made available by PBS, the other manufactures group observed a 16.51% YoY decrease in exports during November’22 to $326.25mn. Under this group, the trade value of leather manufacturers stood at $49.04mn, decreased by 17.86% YoY.

Meanwhile, the exports of jewelry decreased by 59.91% MoM in November’22 to clock in at $0.516mn and year on year exports went down by 45.16%.

Engineering goods exports remained flat in the following month as trade value stood at $23.47mn in November’22 as compared to $23.50mn in November’21, and $24.08 in October’22.

Under the engineering goods, in November’22 the export of auto parts or accessories decreased by 42.70% MoM and 24.30% MoM, whereas the export of other machinery increased by 32.54% YoY to stood at $4.57mn in November’22.

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