Textile exports see increase after posting decline

 Textile exports increased 6% to $1.4 billion in December 2023, indicating a ‘notable’ improvement from Decem­ber 2022 when exports stood at $1.35 billion, according to the Bureau of Sta­tistics. The positive momentum con­tinued from November 2023, where textile exports totalled $1.319 billion, showcasing a steady upward trend in the sector’s performance towards the end of the year.

However, textile exports dropped by 5% from July to December of the cur­rent fiscal year (FY24). “Despite this promising growth in December, the overall performance of the textile sec­tor during the first half of the current fiscal year (July-December) has pre­sented a challenge. This cumulative decrease over the six months raises concerns about the sector’s ability to meet the ambitious government target of $25 billion for textile exports in the entire financial year (FY24),” said an expert from All Pakistan Textile Mills Association (APTMA).

Read more: https://www.nation.com.pk/11-Feb-2024/textile-exports-see-increase-after-posting-decline