Islamabad, Jan 5: The country’s textile sector demonstrated robust growth in the first half of the fiscal year 2024-25, with exports increasing by 9.7 percent to $9.09 billion, compared to $8.29 billion during the same period in the previous fiscal year, according to the Pakistan Bureau of Statistics (PBS). This growth underlines the sector’s resilience amidst challenging economic conditions.
In December 2024, textile exports climbed to $1.48 billion, reflecting a 5.7 percent year-on-year increase from $1.4 billion in December 2023. On a month-on-month basis, textile exports also saw a 1.3 percent rise compared to $1.46 billion in November 2024. These consistent gains highlight the sector’s critical role in the country’s overall trade performance.
However, broader trade data indicates mixed trends. Total exports in December 2024 were $2.841 billion, a marginal decline of 1 percent compared to $2.882 billion in the same month of the previous year. Despite this, overall exports during the first half of FY25 saw an 11 percent increase, reaching $16.561 billion, driven in part by the strong performance of the textile group.
On the other hand, imports surged by 14 percent in December 2024, reaching $5.285 billion compared to $4.635 billion in December 2023. This marked the highest monthly import figure in over two years. Cumulatively, imports during the first half of FY25 rose by 6 percent, standing at $27.733 billion.
The widening trade gap, fueled by rising imports, continues to pose challenges for Pakistan’s balance of payments, even as key sectors like textiles achieve significant milestones. Policymakers face the dual task of sustaining export growth and implementing measures to manage import costs, ensuring economic stability and fostering growth in the coming months.
