Pakistan’s Textile Exports Up by 6% in August

Pakistan’s textile exports registered a growth of 6 percent on a Year-on-Year (YoY) basis in August 2022 and stood at $1.55 compared to $1.46 billion in the same period last year. According to data compiled by Arif Habib Limited, the textile exports increased by 4.7 percent on a Month-on-Month (MoM) basis in August compared to $1.48 billion in July. During the first two months of fiscal year 2023 (2MFY2023), the textile exports surged by 3 percent YoY to $3.03 billion against $2.93 billion during 2MFY2022. Pakistan’s textile exports had dropped by 13.21 percent on a month-on-month (MoM) basis to an 11-month low of $1.481 billion in July 2022  mainly due to a lack of energy supplies, as the government had cut off the gas supplies to the industry in Punjab. However, continuous energy supplies in August have improved the situation. It is pertinent to mention here that overall exports have surged by over 11 percent YoY during August 2022 to $2.5 billion.