Pakistan’s textile group has witnessed a sharp increase in the first two months of the current fiscal year as compared to the same period of last year.
According to the data of exports and imports released by the Pakistan Bureau of Statistics (PBS) country’s textile group exports witnessed a growth of 7.71 percent in August 2022 on a year-on-year basis and remained at $1.575 billion when compared to $1.462 billion during the same month of last year. On a month-on-month (MoM) basis textile group registered 6.37 per cent growth compared to $1.481 billion in July 2022.
The imports of the country have witnessed a slight decrease as well mainly due to the imports of petroleum and liquefied gas products. Petroleum group imports witnessed a growth of 6.97 per cent during the first two months (July-August) of the current fiscal year 2022-23 and remained $3.302 billion compared to $3.087 billion during the same period of last fiscal year
Total imports of the country during July–August 2022 totaled $ 11.064 billion (provisional) as against $ 12.152 billion during the corresponding period of last year showing a decrease of 8.95 per cent