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Textile exports register over 11 percent increase in May 2024

Pakistan’s total textile exports increased by 11.27 percent YoY to $1.48bn in May 2024 compared to $1.33bn in May 2023, according to the data released by the State Bank of Pakistan (SBP) showed.

Likewise, on a month-on-month basis, the exports of the same group registered an increase of 13.89 percent MoM compared to exports worth $1.3bn in April 2024. Cumulatively in 11MFY24, the textile exports declined by 2.69 percent YoY to $15.03bn compared to $15.44bn in 11MFY23. In May 2024, Textile Group product accounted for 49.14 percent of the total exports.

During the review month, key contributing products under the textile head were Knitwear ($343.95m), Readymade Garments ($343.04m), and Bed Wear ($260.27m). Knitwear exports rose by 13.69 percent, Readymade Garments exports increased by 19.82 percent, and Bed Wear exports moved up by 15.39 percent .

The total exports as per BOP for May clocked in at $3.01bn, up by 17.31 percent YoY compared to $2.56bn in May 2023.

The food group remained the second most contributing group in total exports. The export value of this group stood at $595.65m, showing a significant growth of 34.54% YoY compared to $442.73m in May 2023.

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