Pakistan’s textiles exports dropped for the second consecutive month in November, dropping 18.15% to $1.42 billion from $1.736 billion in the corresponding month last year, the Pakistan Bureau of Statistics (PBS) said on Friday.
According to the latest reports, exports of components like cotton cloth, knitwear, bedwear, and towels shrunk while readymade garments exports remained unchanged from the last year.
The PBS said, compared with the previous month, Pakistan’s exports were up 4.7% over November 2021’s exports of $1.357 billion.
The textile sector’s total exports were down 5.1% from July to November, to $7.36 billion from $7.76 billion during the same period last year.
Cotton cloth exports dipped by 25% to $153.7 million in November 2022 compared to $204.85 million in November 2021, while exports decreased by 9.45% over the previous month’s exports of $169.6 million.
However, compared to October, knitwear exports surged 2.17% to $400.2 million, bedwear 2.45% to $222.5 million, towels exports spiked 16.4% to $92.65 million, while exports of readymade garments increased 18.55% to $326.7 million.
Textile and apparel exports fell 12.8%, bedwear exports down 29.4%, and towels sales overseas fell 12% over the same month last year, while ready-made garment exports remained unchanged from November 2021’s statistics.
With more than 60% of all exports coming from the textile industry, Pakistan is the top exporter in the world. Total textile exports reached a record high of $19.35 billion in FY22, up more than a quarter from $15.4 billion in FY21.
Food exports increased 4.6% to $434.3 million from $415.3 million in October 2022 and declined 15.6% year over year when they were $514.7 million.
In comparison to the previous month’s $143.8 million and November 2021’s $231.9 million, rice exports were $203.15 million in October. On a month-to-month basis, rice exports rose by almost 41% in November 2022, while exports fell by 12.4% in comparison to the same month in the previous year.