In August 2023, textile exports experienced a 6% year-over-year decline, amounting to $1.48 billion, down from $1.58 billion in August 2022, according to data released by the All Pakistan Textile Mills Association (APTMA) on Saturday.

However, when looking at the month-to-month comparison, there was a notable increase in textile exports, with a 12.9% rise compared to the $1.31 billion recorded in the previous month.

It’s worth highlighting that this represents the highest level of textile exports since September 2022 when they reached $1.53 billion.

Over the first 8 months of 2023, textile exports totaled $10.58 billion, marking a 19% year-on-year decrease compared to the $13 billion recorded in the same period in 2022.

For context, Pakistan’s overall exports in August saw a significant 14.27% month-on-month increase, reaching $2.26 billion, up from $2.07 billion in July 2023, as reported by the Pakistan Bureau of Statistics (PBS) on September 01.

However, in a year-over-year comparison with August 2022, exports declined by 4.83%.

It is pertinent to note, that rising inflation and rising probability of Global Recession has led to decline in Global Consumer spending, leading to lower Textile Orders this year.

The following two tabs change content below.


Please enter your comment!
Please enter your name here