Islamabad, Dec 18: Pakistan’s textile group exports saw a notable increase of 10.51% during the first five months (July-November) of the 2024-25 fiscal year, reaching $7.607 billion, up from $6.883 billion in the same period of the previous year, according to the latest data from the Pakistan Bureau of Statistics (PBS). This surge in textile exports contributed significantly to the overall export growth for the country, which stood at $13.721 billion during the first five months, marking a 12.82% increase compared to $12.162 billion in the same period of the previous fiscal year.
However, despite the growth, November 2024 saw a slight decrease in exports, with total exports amounting to $2.833 billion, down 5% from October 2024 and 10.10% lower than the $2.573 billion recorded in November 2023. Despite this monthly decline, textile exports in November 2024 showed a positive year-on-year growth of 10.81%, reaching $1.461 billion compared to $1.318 billion in November 2023. On a month-to-month basis, textile exports dropped by 10.14% compared to October 2024.
Notably, rice exports in the first five months of FY25 saw a significant rise of 35.4%, reaching $1.515 billion compared to $1.119 billion during the same period last year, showcasing a robust performance in agricultural exports.
The main commodities contributing to exports in November 2024 included Knitwear ($114.997 million), Rice others ($104.754 million), Ready-made garments ($91.306 million), Bed wear ($70.653 million), and Cotton cloth ($37.899 million), among others. On the imports front, Pakistan’s total imports during the first five months of FY25 stood at $22.467 billion, reflecting a 4.48% increase compared to $21.503 billion during the same period last year.
In November 2024, imports decreased slightly by 1.09% to $4.518 billion compared to October 2024 but remained almost stable with a marginal 0.15% drop compared to November 2023. Key import commodities included petroleum products, petroleum crude, natural gas liquefied (LNG), palm oil, and plastic materials, among others.
