Pakistan textile exports surged to a record high of $14.2 billion in the first nine months of fiscal year of 2022—a 25% year-over-year growth.
As per the data reported by Pakistan Bureau of Statistics (PBS), during the nine months of the fiscal year, key export driver was increase in value-added exports where knitwear segment contributed the most as it increased by 34% YoY to $3.7 billion followed by ready-made garments ($2.9b) and bedwear ($2.5bn) respectively.
On month-on-month basis, Pakistan textile exports have witnessed slight drop of 3% after recording 8% MoM by significant decline in volumetric sales. Also, cotton prices have remained flat at Rs20,000 on MoM basis during the month of March.
Amongst value-added segments, bedwear and ready-made garment segments recorded decline of 1% and 3% respectively, amid decline in volumetric sales. However, towel and knitwear segments recorded increase of 2% and 3% MoM, respectively.
Compared to last year, Pakistan textile exports are up by 20% YoY led by significant growth witnessed in value-added segments, largely in knitwear (up 35% YoY) and ready-made (up 34% YoY).
Interestingly, knitwear witnessed decline of 19% YoY in volumetric sales but better pricing and 15% YoY PKR devaluation helped the segment to be the largest growth contributor.
With respect to basic textile, exports marginally up by 2% YoY to $309mn where major contribution comes from cotton cloth, up by 14% YoY to US$210mn.
