Pakistan’s textile exports fell 15% in July to $1.31 billion, down from $1.54 billion in the same month previous year.
According to the most recent export data published by the All Pakistan Textile Mills Association (APTMA), the country’s textile exports during the calendar year 2023 to date were $9.09 billion, a 21% decrease from the $11.48 billion reported in January-July 2022.
According to Arif Habib Limited, monthly textile exports fell for the tenth time in a row in July.
Read more : Pakistan’s weapons exports increased in FY23
Textile exports fell 10.9 percent month on month, from $1.47 billion in June 2023. June 2023 textile exports were likewise the biggest monthly shipments since September 2022. In February 2023, the country’s textile exports had fallen below $1.2 billion.
Textile exports in FY24 will be determined by demand from export markets in the United States and Europe. High energy costs and a minimum wage increase in FY24 will be major problems for the business.
