The exports of Pakistan’s textile sector increased by 7 percent to $1.32 billion in May compared to April 2023, reported 24NewsHD TV channel on Tuesday.
Textile exports increased by 7 percent to Rs377 billion in May 2023 compared to May 2022, a report said.
The value-added textile exports increased by 3 percent to $88.9 million in May 2023 compared to 2022.
The export of towels increased by 10 percent, ready-made garments by 8 percent, and knitwear by 3 percent compared to last month.
The bedwear exports fell by 8 percent in May compared to April. Textile orders for yarn and cloth saw improvement in May compared to April.
A 20 percent decrease was recorded in textile exports in May 2023 compared to May 2022.
The main reason for the decrease in the exports of May 2023 compared to those of May 2022 is the decrease in exports of the value-added sector, the report claimed.
In 11 months of the current financial year, textile exports have decreased by 15 percent to 15 billion and 30 million dollars.
The textile sector exports are expected to be between $16 and $16.50 at the end of this financial year.
Reporter: Ashraf Khan