Textiles remain a cornerstone of Pakistan’s economy, consistently serving as one of the primary sources of foreign exchange. Recent data from the Pakistan Bureau of Statistics (PBS) reveals a promising trajectory for the sector, with textile group exports experiencing a 10.44% increase in the first four months (July-October) of fiscal year 2024-25, reaching $6.146 billion compared to $5.565 billion during the same period last year.
This growth aligns with the overall rise in exports, which surged by 13.55% during the same period, totaling $10.889 billion. October 2024 saw textile exports grow by 13.11% year-on-year (YoY), amounting to $1.625 billion, reflecting both a robust international demand and Pakistan’s enhanced production capabilities.
Key drivers of this performance include knitwear, readymade garments, and bedwear, which collectively generated significant revenue. Meanwhile, challenges persist in certain areas, such as cotton yarn exports, which showed a 45.59% decline during July-October 2024. However, month-on-month (MoM) figures indicate a recovery, with cotton yarn exports growing by 13.83% in October 2024.
Additionally, rice exports bolstered overall export performance, recording an impressive 52.53% YoY increase during the first four months of FY 2024-25.
Pakistan’s textile industry is well-positioned to continue driving economic growth, with sustained investments in innovation, production efficiency, and market diversification likely to enhance its global footprint. By capitalizing on these opportunities, Pakistan can further strengthen its export profile and secure much-needed foreign exchange.
