Pakistan’s exports of non-textile goods fell 0.65% year over year to $5.54 billion in the first half of FY23 amid a worldwide economic slump.
Since the beginning of the current fiscal year, the non-textile sector’s export revenues have been stagnant as demand in the buyers’ market has declined. According to statistics published by the Pakistan Bureau of Statistics, no increase in exports has been seen year over year since September 2022. (PBS).
Exports of goods other than textiles increased by 25.85% in FY22. The export of leather clothing decreased 6.77 percent in the value-added leather industry. From July through December of 2022–2023, leather glove exports increased by 5.47 percent. In contrast, raw leather exports also fell by 8.63 percent.
Cement exports decreased by 40.45% in the first half of this year compared to the same period last year.
One of the major producers of surgical tools worldwide is Pakistan. However, well-known companies resell these instruments in western nations. Because of this, the export value of these goods is still extremely low.
In comparison to the same time in 2012, surgical tool exports increased by 8.53 percent in 6MFY23. Additionally, pharmaceutical exports increased by 26.85%. In 6MFY23, exports of sports items increased by 27.40 percent while those of carpets increased by 1.93 percent. Football sales increased by 53.58 percent. In November 2022, Pakistan hosted the FIFA World Cup, which was hosted in Doha, Qatar.
According to PBS statistics, the food basket had a 6.27 percent decline in growth from July to December of last year.
In this area, rice exports saw a negative growth of 13.02 percent from July to December, mostly due to a decline in the market for basmati rice.
In comparison to the same time in 2012, surgical tool exports increased by 8.53 percent in 6MFY23. Additionally, pharmaceutical exports increased by 26.85%.