Pakistan’s Textile Exports At Lowest Level in 11 Months

Pakistan's textile exports increased by 3.2 percent year-on-year (YoY) in March 2024 and stood at $1.3 billion compared to $1.26 billion during the same period last year, data by All Pakistan Textile Manufacturers Association (APTMA revealed Tuesday. On a month-on-month basis, textile exports show a 7.8 percent decline compared to the $1.41 billion exports witnessed in February 2024. This is the lowest level of exports since April 2023, according to Arif Habib Limited. The country's overall exports during July-March FY24 totaled $12.44 billion against $12.48 billion during the corresponding period of last year, showing a decrease of 0.3 percent YoY. APTMA recently raised concerns over the local textile export industry losing ground in the global market. This decline is attributed to the significant surge in energy tariffs. The association said these increases are making it difficult for Pakistani textile exports to remain competitive internationally. APTMA emphasized that the recent spike in gas tariffs has had devastating consequences for the textile sector. Source: ProPakistani