Textile Exports Surge 10.44% to $6.146 Billion in Four Months

The textile industry is a vital part of Pakistan's economy, contributing significantly to the country's exports. In recent years, this sector has faced various challenges, but recent data from the Pakistan Bureau of Statistics (PBS) reveals a positive trend. According to the latest report, textile exports have increased by an impressive 10.44 percent during the first four months of the current financial year (2024-25) compared to the same period last year.

During the months of July to October 2024, Pakistan's textile exports reached a remarkable US $6,146.105 million, up from US $5,565.058 million in the previous year. This growth can be attributed to several key textile commodities that have shown significant improvement in their export figures. For instance, the export of cotton cloth rose by 5.25 percent, amounting to $679.427 million, while knitwear exports surged by an impressive 18.69 percent, totaling $1,759.991 million.

Other notable contributors to this growth include bed wear, which saw a 13.17 percent increase to $1,069.690 million, and towels, which grew by 5.47 percent to $356.461 million. Additionally, the export of readymade garments experienced a remarkable growth of 25.40 percent, reaching $1,358.890 million. These figures highlight the resilience and potential of Pakistan's textile sector.

However, not all segments of the textile industry experienced growth. The export of cotton yarn faced a significant decline of 45.49 percent, dropping from $407.564 million to $221.759 million. Furthermore, the export of raw cotton plummeted by 100 percent, falling from $23.346 million to zero during the review period. These declines indicate that while some areas are thriving, others are struggling and may require attention and support.

On a year-on-year basis, textile exports also showed a positive trend in October 2024, with an increase of 13.11 percent compared to October 2023. The exports for October 2024 were recorded at US $1,625.782 million, up from US $1,437.287 million in the same month last year. However, it is worth noting that there was a slight month-on-month decrease of 1.30 percent in October 2024 compared to September 2024.

The recent increase in textile exports is a promising sign for Pakistan's economy, showcasing the sector's potential for growth and development. While certain areas are flourishing, it is crucial for stakeholders to address the challenges faced by struggling segments, such as cotton yarn and raw cotton. By focusing on innovation and quality, Pakistan can further enhance its position in the global textile market, ensuring sustainable growth for years to come.