Textile exports rise 18pc in September
ISLAMABAD: The exports of textile and clothing recorded an increase of nearly 9.51 per cent in the first quarter of FY25 amid concerns that the industry was experiencing a slump, Pakistan Bureau of Statistics data showed on Thursday.
The exports from the sector had a negative growth of 3.09pc in July, which rebounded 13pc in August and 17.92pc in September.
Many experts believe that the textile sector may struggle to compete with regional rivals due to the implementation of harsh taxation measures in the current fiscal year. However, the disruption in supply from Bangladesh has also increased the demand for Pakistani garments.
Textile and clothing exports have stayed the same in the last two years despite having a $25 billion installed capacity. According to textile exporters, exports from the same sectors have been static for the past two years due to structural issues.
Raw cotton imports jump 21pc in 1QFY25
In absolute terms, the textile and clothing exports surged to $4.52bn in the first quarter (July-September) of FY25 from $4.13bn over the corresponding months last year.
The government has introduced various measures, including increasing the tax rate on exporters’ personal income in 2024-25.
The PBS data showed the exports of readymade garments rose 23.17pc by value in the first quarter and 16.16pc by quantity, while knitwear rose 14.13pc by value and 2.17pc by quantity. Bedwear posted a growth of 13.31pc in value and a growth of 14.55pc in quantity.
Towel exports surged 7.04pc in value and 5.32pc in quantity in the first quarter of FY25, whereas cotton cloth went up by 10.20pc in value and 3.43pc in quantity, respectively.
Yarn exports dipped by over 48.45pc in the first three months this year over the same period last year. The exports of made-up articles, excluding towels, increased by 12.10pc, and tents, canvas, and tarpaulin grew by 5.43pc in the three months from a year ago. No export of raw cotton during the period under review.
The import of synthetic fibre posted a negative growth of 19.65pc in three months this year and that of synthetic and artificial silk yarn by 5pc. However, other textile items increased by 66.51pc during the months under review.
The import of raw cotton increased by 21.17pc in the first quarter of the current fiscal year from a year ago. However, the import of second-hand clothes posted a growth of 23.35pc. In July-September FY25, total exports increased by 14.61pc to $7.90bn, up from $6.90bn in the same months last year.
Published in Dawn, October 18th, 2024