Industry offered relief in budget

Decline in country’s textile group exports

According to Pakistan Bureau, the country’s textile group exports have declined by around 11.09 percent during the first eight months (July-February) of the current fiscal year 2022-23 and remained at $11.218 billion as compared to $12.617 billion during the same period of last year. The data of exports and imports released by PBS revealed that the country’s textile group exports witnessed a decline of 29.92 percent in February 2023 on a year-on-year basis and remained at $1.180 billion when compared to $1.684 billion during the same month of last year. On a month-on-month (MoM) basis, the textile group registered 10.69per cent negative growth compared to $1.321 billion in January 2023. Cotton yarn exports registered 38.12per cent negative growth in July-February and remained $550.015 million compared to $816.102 million during the same period of the last year.

On a year-on-year basis, cotton yarn exports registered 56.65 per cent negative growth, while on a MoM basis, it registered 18.09 per cent growth. The country’s overall exports during July-February 2022-23 totalled $18.678 billion (provisional) against $20.573 billion during the corresponding period of last year showing a decrease of 9.21 per cent.