According to Arif Habib Limited, Pakistan’s textile exports rose to their highest level ($1.53 billion) since September 2022 in August.
According to the All Pakistan Textile Mills Association’s (APTMA) most recent export statistics, $1.48 billion worth of textiles were exported in August 2023. Exports increased 13% month over month from the $1.31 billion reported in July 2023.
In comparison to $1.58 billion reported in the same period previous year, textile exports fell by 6.3 percent year over year.
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The country’s textile exports for the first half of 2023 totaled $10.58 billion, a 19% decrease from the $13 billion in exports reported from January to August of 2022.
Future textile exports in FY24 will be influenced by demand from US and European export markets. The sector will face significant obstacles in the form of high energy costs and an increase in the minimum wage in FY24.
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