ISLAMABAD: Pakistan’s textile sector has been hit as its export earnings declined by 19.57 percent to $1.32 billion in May 2023 from $1.64 billion in the same month a year ago, according to the Pakistan Bureau of Statistics (PBS). ) Statistics. Shown on Friday.
The country’s shrinking textile sales have seen a decline for the eighth straight month.
Total textile exports from July to May of FY23 declined by an overall 14.7% to $15.03 billion from $17.62 billion during the same period of FY22.
Exports of all major textile components including cotton fabrics, knitwear, bedwear, towels and ready-made garments have seen a decline.
However, exports of the textile sector in May 2023 increased by 7.1 percent compared to the previous month, when exports stood at $1.23 billion.
In May 2023, exports of cotton fabrics declined by 24.5% to $174.7 million as against $231.3 million in May 2022. Similarly, exports of knitwear decreased by 22.34% to $322.7 million in May, while exports of bedwear decreased by 28.4% to $201 million. Exports of towels decreased 5.2 percent to $87.5 million, and cotton yarn decreased 5.8 percent to $100.4 million, down 16.8 percent from the same month last year to $267.7 million.
On the other hand, exports of ready-made garments increased by 8.2%, cotton yarn by 57.4%, knitwear by 3.4% and towel exports by 9.9% during April 2023. However, bedware exports declined by 7.6% during the same period.
In May 2023, exports of food groups decreased by 16.46% to $384.3 million as compared to $460 million in May 2022.
Volume sales of rice abroad also fell by 46.8 percent in May. Basmati rice exports rose 11.5 percent to $66.8 million during the month, while other rice exports fell 31.6 percent to $112.8 million over the same month’s sales.
Exports of fish and fish preparations rose 25% to $50.6 million, with volume sales also up 33%. Sugar exports in May 2023 declined by 95.7% to $0.87 million as against $20.26 million in April 2023.
Exports of sporting goods decreased by 3.3% to $31.7 million during the same month in May 2023, of which football exports increased by 21.8% to $21.3 million. Exports of surgical supplies fell 4.1 percent to $31 million, and chemicals and pharmaceuticals rose 5.3 percent to $128.6 million.
However, cement exports increased by 145.9% to $18.1 million in May 2023 from $7.36 million in May 2022.
Its volume sales during this month also increased by 208% compared to the same month last year.
In May 2023, imports within the petroleum group fell significantly, down 46.8 percent compared to the same month last year, valued at $1.41 billion, as reported by the latest data. This figure contrasts with $2.64 billion recorded in May 2022.
However, imports within the petroleum group increased by 58% compared to the previous month.
Imports of crude oil decreased by 28.6 percent to $384.8 million, petroleum products decreased by 59.3 percent to $599.1 million and imports of liquefied natural gas (LNG) decreased by 38.2 percent to $260.8 million. On the other hand, Liquefied Petroleum Gas (LPG) imports increased by 26.2% to $63 million compared to May 2022 imports.
Compared to May 2022, imports of petroleum products increased significantly by 91.7% in May 2023, while imports of crude oil increased by 38.9%, LNG by 39.5% and LPG by 45.8%.
Moving to machinery group imports in May 2023, they saw a year-on-year decline of 29.6 percent, totaling $550.3 million as compared to $781.1 million in May 2022. In April 2023, machinery imports were recorded at $352.2 million.
Among sub-categories, imports of textile machinery decreased by 66.6% to $15.2 million, power generation machinery decreased by 66.5% to $38.5 million, agricultural machinery decreased by 66% to $2.52 million, construction and mining machinery decreased by 1.9%. 8.9 million dollars and imports of telecom machinery decreased by 1.9 percent. 55.8% decrease to 81 million dollars. However, imports of electrical machinery increased by 24.5 percent, amounting to $184.3 million.
Imports of mobile sets declined significantly by 68.5 percent to $43.2 million as against $137.2 million in the same month last year. However, compared to the previous month, when mobile set imports were recorded at $10.6 million, imports increased significantly by 308 percent.
Within the transport sector, which includes cars, vehicles and parts, imports in May 2023 fell 78 percent year-on-year, totaling $73.9 million. Imports were $338 million in the same month last year.
During the 11-month period, total imports in the transport sector reached $1.67 billion, representing a 58.9 percent decline from last year’s figure of $4.1 billion.
