Non-textile exports turn in flat performance in 1QFY23

Published October 21, 2022
Basmati rice exports shrank in July-September due to demand slowdown in buyers market.
Basmati rice exports shrank in July-September due to demand slowdown in buyers market.

ISLAMABAD: Pakistan’s expo­rts of non-textile products posted a paltry growth of 0.77 per cent year-on-year to $2.59 billion in the first quarter of the current fiscal year, data compiled by the Pakistan Bureau of Statistics (PBS) showed on Thursday.

The stagnation in export proceeds of the non-textile sector was noted since the start of the current fiscal year as demand slowed down in the buyers’ market. No growth was recorded in September on a year-on-year basis.

In FY22, the non-textile exports posted a growth of 25.85pc.

In the value-added leather sector, exports of leather garments grew by 2.99pc. The export of leather gloves rose 7.24pc in July-September of 2022-23. Contrary to this, the exports of raw leather increased by 1.70pc in the first quarter.

Pakistan is one of the main suppliers of global surgical instruments. However, these instruments are re-marketed in western countries by famous brands. As a result, the export value of these products remains very negligible.

The export of surgical instruments rose 9.96pc in 1QFY23 over the same period last year. The exports of pharmaceutical products also grew by 14.15pc.

The export of footwear increased by 27.07pc year-on-year led by leather and canvas footgear. The export of engineering products was up 18.22pc year-on-year in July-September. However, the export of electric fans increased by 26.97pc during 1QFY23.

The export of carpets went up by 13.85pc, while that of sports goods was up 31.18pc during 1QFY23 from a year ago. In the sports sector, the sales of footballs were up 59.10pc in July-September from a year ago. Pakistan is the official football supplier to the next FIFA World Cup to be started in November in Doha, Qatar.

The government has proposed several measures including a reduction in duty on raw materials to promote exports of pharmaceutical, plastic, chemicals, engineering, and value-added textile products.

Food exports

PBS data showed the food basket posted growth of 5.70pc in July-September from a year ago.

Under this category, exports of rice witnessed a negative growth of 5.10pc year-on-year in July-Septe­mber mainly because of a drop in the demand for basmati rice. The break-up showed that basmati exports in value decreased by 15.47pc and 29.01pc in quantity while non-basmati exports were up by 0.82pc in value. The export of spices dipped by 18.74pc, followed by oilseeds, nuts by 17.67pc, and fruits by 30.76pc, respectively.

The export of meat and products was up 21.68pc, followed by the export of fish products increased by 40.20pc, vegetables by 44.34pc and tobacco increased by 74.66pc in July-September 2022 over the last year month.

Published in Dawn, October 21st, 2022

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

The Dar story continues

The Dar story continues

One wonders what the rationale was for the foreign minister — a highly demanding, full-time job — being assigned various other political responsibilities.

Editorial

Wheat protests
Updated 01 May, 2024

Wheat protests

The government should withdraw from the wheat trade gradually, replacing the existing market support mechanism with an effective new one over the next several years.
Polio drive
01 May, 2024

Polio drive

THE year’s fourth polio drive has kicked off across Pakistan, with the aim to immunise more than 24m children ...
Workers’ struggle
Updated 01 May, 2024

Workers’ struggle

Yet the struggle to secure a living wage — and decent working conditions — for the toiling masses must continue.
All this talk
Updated 30 Apr, 2024

All this talk

The other parties are equally legitimate stakeholders in the country’s political future, and it must give them due consideration.
Monetary policy
30 Apr, 2024

Monetary policy

ALIGNING its decision with the trend in developed economies, the State Bank has acted wisely by holding its key...
Meaningless appointment
30 Apr, 2024

Meaningless appointment

THE PML-N’s policy of ‘family first’ has once again triggered criticism. The party’s latest move in this...