In September 2023, Pakistan’s textile exports decreased by 12 percent year over year (YoY), falling to $1.35 billion from the $1.53 billion reported in the same month of the previous fiscal year.
All Pakistan Textile Mills Association (APTMA) statistics show that exports are also down 8% month over month from the $1.46 billion in exports recorded in August 2023.
The exports during the first quarter of the current fiscal year (1QFY24) continued this pattern, falling by 10% to $4.12 billion from the $4.59 billion exported during the same period last year.
The Pakistan Board of Statistics (PBS) reported that the nation’s overall exports increased in September 2023 on both a MoM and YoY basis.
The exports for September 2023 totaled $2.465 billion, an increase of 1% year over year and 4% month over month.
It is significant to note that temporary federal minister of commerce Gohar Ejaz set the lofty aim of $25 billion for textile exports in the current fiscal year. In FY23, the country exported textiles worth $16.50 billion.
