Pakistan’s exports of textiles and clothing in June reached US$1.706 billion, a month-on-month increase of 3.90%, and a year-on-year increase of 2.77%; exports of cotton yarn were 23,400 tons, a month-on-month decrease of 13.36%, a year-on-year decrease of 39.81%; exports Cotton cloth was 31 million square meters, down 15.53% month-on-month and 32.02% year-on-year.
In the 2021/22 fiscal year (July 2021-June 2022), Pakistan’s exports of textiles and clothing reached US$19.321 billion, a year-on-year increase of 25.32%, accounting for total merchandise exports 60.77% of the total; exports of cotton yarn were 332,200 tons, a year-on-year decrease of 14.38%; exports of cotton cloth were 429 million square meters, a year-on-year decrease of 60.90%.
The Pakistan Textile Mills Association (APTMA) stated that the textile industry is currently the only industry that can sustain growth and bring foreign exchange earnings to the country amid the epidemic and global energy crisis. This is inseparable from the support of the regional competitive energy tariff (RCET) policy implemented by the government. It is expected that Pakistan’s textile industry exports will experience significant growth in fiscal year 2023, with a growth rate that may exceed 20%. From January to June 2022, the Pakistani textile industry’s industry investment volume under the long-term financing mechanism (LTFF) and the temporary economic refinancing mechanism (TERF) Reaching US$5 billion, a year-on-year increase of 25%.
