ISLAMABAD: Pakistan’s exports of non-textile products saw a paltry growth of 1.33 per cent in the first quarter of the current fiscal year from a year ago.
The growth was observed despite a sharp drop in the country’s main exports of textiles and clothing in the same period, according to data compiled by the Pakistan Bureau of Statistics.
The start of 2023-24 saw a continued downward trend in the export of value-added products, significantly impacting non-textile products as well.
The export proceeds from the non-textile sector had been stagnant since the beginning of FY23 due to demand contraction in the buyers’ market. Exports showed no growth since September 2022 on a year-on-year basis.
In the July-September period of FY24, the exports of leather garments fell by 8.32pc year-on-year in FY24. The exports of raw leather also decreased by 29.66pc during the months under review.
The export of carpets and rugs declined by 24.75pc in 3MFY24. Despite a complete slump in FY23, the new fiscal year saw a revival in cement exports, with a surge of 43.85pc. The growth in cement quantity was also noted as it grew by 35.90pc in the first quarter of FY24 from a year ago.
The export value of surgical instruments remains negligible as these instruments are re-marketed in Western countries by famous brands. However, Pakistan is one of the main suppliers of global surgical instruments. The export of surgical instruments posted a paltry growth of 0.88pc in July-September over the same months last year.
Contrary to this, the export of footwear saw a decline of over 15.90pc in July-September from a year ago. Footwear is one of the sectors which saw a growth in exports in FY23. The export of engineering goods also witnessed a decline of 4.70pc in FY24 from a year ago.
The export of jewellery witnessed an increase of 11.47pc in the first quarter of FY24 from a year ago, followed by 11.91pc in the export of gur and gur products. However, the export of gems declined by 38.75pc, furniture 41.95pc, molasses 31.31pc, and handicrafts 57.73pc.
Published in Dawn, October 22th, 2023
