The latest data from the Bureau of Statistics revealed that the Pakistan textile export recorded a significant growth of 6 percent in the month of December 2023. The data revealed that a 6 percent increase in textile exports was recorded, reaching $1.4 billion in December 2023. This marks a positive trend compared to the same period in 2022, while the textile exports were recorded at $1.35 billion, and in November 2023, with exports at $1.319 billion. However, there is a notable decline in textile exports from July to December of the current fiscal year, with a 5 percent decrease amounting to $8.28 billion. According to the Department of Statistics, the previous fiscal year saw the exports in textile sector worth $8.71 billion. Despite the growth in December, achieving the government’s ambitious target of 25 billion dollars for textile exports in the current financial year seems challenging, as experts predict the fiscal year’s total textile exports to range between $17 to $18 billion.

Credit: Independent News Pakistan (INP)