Economy

Pakistan Textile Exports at record high of US$1.74 billion in April-22

Textile Exports at US$16 billion in 10MFY22, up 26 percent YoY

Karachi, May 16, 2022: As per the Pakistan Bureau of Statistics (PBS), Pakistan textile exports surged to a record high of US$1.74 billion (+7 percent MoM) in Apr-22 where around 81 percent of the increase in exports as compared to Mar-22 belongs to value-added exports.

Under the value-added segment, Knitwear exports played a key role here which is up by 15 percent MoM to US$488 million mainly due to significant rise in volumetric sales (+28 percent MoM) followed by Bedwear (+7 percent MoM) and Ready-made garments (+2 percent MoM).

In addition, textile sector exports reached all time high during 10MFY22 to clock in at US$16 billion, up 26 percent YoY. 10MFY22 exports number has already crossed the levels seen in FY21 of US$15.4 billion. In PKR terms, the same has clocked in at Rs2.8trillion, +36 percent YoY.

The key reason behind record upsurge in exports are 27 percent YoY increase in value-added exports where around 1/3rd of overall increase is due to Knitwear exports (+35 percent YoY to US$4.2 billion) followed by Ready-made garments (+28 percent YoY to US$3.2 billion) and Bedwear (+19 percent YoY to US$2.7 billion).

Compared to last year, Pakistan textile exports are up by 30 percent YoY (+57 percent YoY in PKR terms to Rs321 billion) in Apr-22 led by substantial growth witnessed in value-added segments, mainly in Knitwear (+41 percent YoY) followed by Ready-made Garments (+44 percent YoY) and Bedwear (+16 percent YoY).

With respect to basic textile, exports witnessed increase of of 17 percent YoY to US$314 million in Apr-22 where major contribution came from cotton cloth, +29 percent YoY to US$210 million. However, cotton yarn showed a decline of 5 percent YoY to US$98 million.

Going forward, we expect this trend to continue and expect textile exports to reach at ~US$19 billion in FY22.

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