Pakistan is known for its textile industries. However, recently the industry is under huge pressure due to the economic conditions and inflation in the country. The rising energy prices, lack of government support, and closure of LCs have put the sector under miserable conditions. The data released by the Pakistan Bureau of Statistics on Friday showed that the exports of textiles and clothing fell 18.15% in November to $1.42 billion compared to $1.74bn in the same month. The drop in textile and clothing exports has been gaining momentum over the past three months owing to multiple factors, including high energy costs and a slump in global demands despite the massive depreciation of the rupee.
In terms of US dollars, overall exports in November 2022 were $ 2,391 million (provisional) compared to $ 2,384 million in October 2022, showing an increase of 0.29% but decreased by 17.58% as compared to $ 2,901 million in November 2021.
The PBS data showed the exports of readymade garments recorded no growth in value in November; however, grew by 49.70% in quantity, while knitwear dipped 12.80% in value and about 20% in quantity, bedwear posted a negative growth of 29.39% in value and 37.48% in quantity. Towel exports went down by 12% in value and 15% in quantity, whereas cotton cloth dipped by 25% in value and 32.68% in quantity.
Among primary commodities, cotton yarn exports declined by 60.71%, while yarn other than cotton by 19.09%. The export of made-up articles, excluding towels dipped by 17.81%, and tents, canvas, and tarpaulin increased by a massive 18% during the month under review. The export of raw cotton in November recorded a growth of 100pc during the months under review.
As the textile sector is the backbone of Pakistan’s economy and provides job opportunities to over 50% of employment in the country, the government should pay special attention to this sector; otherwise, it will further add troubles in the current critical scenario of the country.
