Pakistan’s textile and clothing (T&C) exports grew for the second consecutive month in January 2024, shows data released by the Pakistan Bureau of Statistics (PBS).

Textiles and clothing exports by the nation surged by 10.10 per cent, reaching $1.45 billion during the month compared to $1.32 billion in the same period last year. On a M-o-M basis, Pakistan’s T&C exports grew by 3.33 per cent in January 2024. 

According to the last PBS data, the value of Pakistan’s RMG exports surged by 13.85 per cent in January while the value of knitwear exports grew by 8.39 per cent and that of bedwear increased by. 19.26 per cent.

Pakistan also noted a 5.41 per cent growth in towel exports, 0.46 per cent growth in export of cotton cloth and 126.45 per cent rise in exports of raw cotton and yarn during the month. 

Despite this recent growth, the sustainability of this upward trend in the coming months remains uncertain. In the initial seven months of FY24, Pakistan’s textile and clothing exports declined by 2.99 per cent to $9.73 billion from $10.03 billion in the corresponding months of the previous year. This decline was mainly attributed to rising production costs due to higher energy expenses and a liquidity shortage.

Pakistan’s import of textile machinery also declined by 34.81 per cent during this period, indicating a lack of focus on expansion or modernisation projects. On the other hand, imports of synthetic fiber, synthetic and artificial silk yarn, and other textile items increased during the same period.

The previously announced plans by the Ministry of Commerce to offer competitive energy prices to textile exporters and release pending sales tax refunds are yet to be implemented.