Pakistan’s Textile Exports Decline by 19% in November

Pakistan’s textile group exports witnessed a decline of 19 percent in November 2022 on a year-on-year (YoY) basis and stood at $1.4 billion (provisional) compared to $1.74 billion during the corresponding period last year, according to data released by the All Pakistan Textile Mills Association (APTMA). During the first five months of the financial year 2022-23 (FY23), exports clocked in at $7.44 billion compared to $7.76 billion in 5MFY22, depicting a 4 percent YoY dip. On a month-on-month basis, textile exports registered a 3.3 percent growth, climbing to $1.4 billion in November from $1.357 billion recorded in October. November was the second consecutive month where the country’s textile exports declined. The textile group exports also witnessed a decline of 15.23 percent in October 2022 on a year-on-year (YoY) basis. The textile exports had increased marginally during July on a YoY basis, and posted growth of 8 percent and 9 percent during August and September, according to data shared by APTMA.