ISLAMABAD: A significant decrease in the export of different items from Pakistan to other countries in November 2022 has badly affected the textile sector, WealthPK reports.
The decline in Pakistan’s exports continued to be witnessed in the previous month which affected several industries. However, the textile sector was hit hard by the current wave of negative growth in exports.
According to the Ministry of Commerce, the country’s overall exports recorded a decrease of 18% in November of the current fiscal that led to a 19% decline in the export of textile items.
It said that the export of bed linen, table linen, toilet linen and kitchen linen declined by 25% and dropped to $333 million in November 2022 as compared to $444 million in the same month of the previous financial year.
A decline of 29% was recorded in the export of woven cotton fabrics during the month under review. The volume of export of woven cotton fabrics dipped to $59 million in November of the current financial year from $84 million in the same month of the previous fiscal.
The data of the ministry shows that the export of jerseys, pullovers, cardigans, waistcoats and similar articles also dropped by 15% in November and reduced to $73 million from $86 million during the same month of last year.
A decline of 17% was recorded in the export of articles of apparel and clothing accessories. The volume of the export of apparel and clothing accessories dropped to $54 million in November 2022 from $65 million in the same month of the previous year.
The export of made-up articles, including dress patterns also posted negative growth of 19% during November. The volume of export of made-up articles was recorded at $48 million during November against $59 million in the corresponding month of last year.
The data shows a 4% decline in the export of T-shirts, singlets and other vests. The volume of the export of T-shirts dropped to $59 million from $ 61 million during the same month of 2021.
The export of gent suits also fell by 3% during the month under review and reduced to $80 million from $82 million in the corresponding month of last year.
On the other hand, a slight increase of 3.33% was recorded in the export of ladies’ suits as its volume rose to $31 million in November 2022 from $30 during the same month of the previous year.
Apart from textile products, the export of rice also declined by 14% during the month under review and its volume was recorded at $200 million against $232 million in November 2021.
The export of copper also registered a negative growth of 23% and its volume dipped to $58 million in November 2022 from $76 million in the same month of last year.
According to the data of the Pakistan Bureau of Statistics (PBS), available with WealthPK, the country’s total exports also declined by 18% to $2.369 billion in November 2022 against $ 2.901 billion during the same month of the previous financial year.
