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During the initial seven months (July-January) of FY24, Pakistan experienced a nearly 3 percent decline in textile exports, amounting to $9.738 billion as reported by the Pakistan Bureau of Statistics (PBS) on Friday. This figure marked a decrease from $10.038 billion recorded in the corresponding period of FY23.
The country’s overall exports for July-January FY24 reached a provisional total of $17.778 billion, reflecting a 7.87 percent increase compared to the same period in the previous fiscal year, which recorded $16.481 billion.
Read More: “Pakistan Rice Exports 2024: A Game-Changer or bold gamble for the Nation’s Destiny?”
In January 2024, the provisional export value was $2.792 billion, showcasing a 1.06 percent decline from December 2023 ($2.822 billion), yet a notable surge of 24.81 percent from January 2023 ($2.237 billion).
PBS data disclosed that textile exports witnessed a 3.98 percent month-on-month (MoM) growth in January 2024, reaching $1.455 billion, up from $1.399 billion in December 2023. On a year-on-year (YoY) basis, textile exports in January 2024 exhibited a 10.10 percent increase compared to $1.321 billion in January 2023.
Cotton yarn exports demonstrated a substantial 49.04 percent increase in the first seven months of the current fiscal year, reaching $669.824 million, a rise from $449.418 million in the corresponding period of the last fiscal year.
On a YoY basis, cotton yarn exports showed a growth of 19.78 percent in January 2024, amounting to $81.295 million, as opposed