Pakistans textile group exports recorded an increase of 4.18 percent in the first two months (July-August) of the ongoing fiscal year 2022-23 (FY23) and stood at $3.056 billion when compared to $2.933 billion during the corresponding period of last year, according to to report released by the Pakistan Bureau of Statistics (PBS).
According to the data of exports and imports from PBS, the countrys textile group exports registered a growth of 7.71 percent in August 2022 on a year-on-year (YoY) basis and stood at $1.575 billion as compared to $1.462 billion during the corresponding month of last year.
On a month-on-month (MoM) basis, the textile group witnessed a 6.37 percent growth compared to $1.481 billion in July 2022. Raw cotton exports recorded a 100 percent increase in July-August 2022-23 on MoM as well as on a year-on-year (YoY) basis.
However, cotton yarn exports witnessed 17.03 percent negative growth in July-August and stood at $35.339 million as compared to $193.389 million during the same period of last year. On a YoY basis, cotton yarn exports showed a negative growth of 13.94 percent whereas, on an MoM basis, they registered a 24.84 percent growth.
Pakistans total exports during July-August 2022 stood at $4.737 billion (provisional) compared to $4.587 billion during the same period of last year showing, indicating an increase of 3.27 percent. The exports in August 2022 were recorded $2.482 billion (provisional) against $2.254 billion in July 2022 registering a rise of 10.12 percent and by 10.46 against $2.247 million in August 2021.
Moreover, SBP data revealed that the main commodities of exports during August 2022 were Knitwear (Rs. 99,362 million), Readymade garments (Rs. 72,897 million), Cotton Cloth (Rs. 43,159 million), Bed wear (Rs. 57,055 million), Rice Others (Rs. 22,569 million), Towels (Rs. 16,574 million), Cotton Yarn (Rs. 19,679 million), Petroleum crude (Rs. 12,056 million), Made up Articles (Excl. towels & Bedwear) (Rs. 13,355 million), and Rice Basmati (Rs. 9,179 million).
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