ISLAMABAD: The textile and clothing exports bounced back in October from the previous downward trajectory, according to statistics issued by the Pakistan Bureau of Statistics on Friday.

The sector recorded growth of 5.92pc, with exports rising to $1.44bn, up from $1.35bn in the same month last year.

The data, however, showed that the export value of textile and clothing exports shrank 6.33pc in the first four months (July-October) FY24 to $5.56bn from $5.94bn in the corresponding period last year. The textile and clothing sector has experienced a decline in exports mainly attributed to escalating production costs and a liquidity crunch.

Caretaker Commerce Minister Gohar Ejaz last month announced that the government would soon offer regionally competitive energy prices to textile exporters and resolve their cash flow issues by releasing pending sales tax refunds. However, the decision was yet to be implemented.

The PBS data showed the exports of readymade garments shrank 0.43pc in value in October and by 1.83pc in quantity, while knitwear dipped 5.27pc in value but grew 52.98pc in quantity, bedwear posted a positive growth of 12.19pc in value and 29.85pc in quantity.

The towel exports increased by 17.93pc in value and 35.24pc in quantity, whereas those of cotton cloth slightly increased by 0.45pc in value and 11.21pc in quantity.

However, the export of raw cotton and yarn increased by over 324pc and 87.88pc during October of FY24 from a year ago.

The export of made-up articles — excluding towels — went up by 10.87pc, and tents, canvas and tarpaulin by 37.71pc in October from a year ago.

The import of textile machinery declined by 37.63pc in October — a sign that expansion or modernisation projects were not a priority.

In the first quarter of FY24, the total exports slightly increased 0.48pc to $9.59bn this year from $9.55bn over the last year.

Published in Dawn, November 18th, 2023