Pakistan’s textile and garment exports had been experiencing numerous challenges during the last fiscal. The global economic slowdown has adversely affected textile exports for major supplier countries, including Pakistan. Additionally, political unrest within the country has also disrupted economic activities. 

Pakistan’s textile and garment exports fell 14.63 per cent to $16.501 billion in 2022-23, down from $19.329 billion in 2021-22, according to the country’s ministry of commerce.
Global economic slowdown and internal political unrest negatively impacted the sector.
Notably, knitwear, non-knit garments, and cotton exports saw significant declines.

The exports of textiles contributed 59.50 per cent in Pakistan’s total goods exports of $27.734 billion during the last fiscal. The share was 60.89 per cent in the total exports of $26.246 billion during fiscal 2021-22. 

Category-wise, knitwear exports slipped by 21.10 per cent year-on-year to $4,436.78 million during the period under review, while exports of non-knit readymade garments were down 10.57 per cent to $3,491.95 million. 

As for textiles, cotton yarn exports decreased by 30.04 per cent to $844.24 million, while exports of cotton fabric fell 17.06 per cent to reach $2,022.00 million in July-June 2023. Bedwear exports declined by 18.26 per cent to $2,691.65 million during this period, the data showed. 

On the import front, synthetic fibre imports decreased by 34.77 per cent year-on-year to $484.53 million, while imports of synthetic and artificial silk yarn dropped by 33.65 per cent to $583.07 million during the same period. 

Meanwhile, the value of textile machinery imports by Pakistan in July-June 2023 decreased significantly by 57.03 per cent year-on-year to $328.62 million, showing a drop in new investments. 

In fiscal 2021-22 ended June 30, textile and garment exports from Pakistan increased by 25.53 per cent to $19.329 billion over $15.399 billion in the previous fiscal. In fiscal 2019-20, the exports amounted to $12.526 billion. 

Fibre2Fashion News Desk (KUL)