Non-textile exports decreased 9 percent in July.
ISLAMABAD: The exports of non-textile exports saw a decline of 8.99 percent in the first month of the current fiscal year from a year ago, data compiled by the Pakistan Bureau of Statistics (PBS) showed on Wednesday.
The start of the new fiscal year witnessed a continued downward trend in the export of value-added products, contributing significantly to the decline in the exports of non-textile products.
The export proceeds from the non-textile sector showed a stagnant trend since the beginning of FY23 due to demand contraction in the buyers’ market. Exports showed no growth since September 2022 on a year-on-year basis.
In FY23, non-textile exports fell by 9.87pc to $11.23 billion compared to $12.46bn in the preceding year.
The exports of leather garments fell year-on-year by 10.98pc in July. The exports of raw leather also decreased by 41.08pc.
The export of carpets and rugs declined by 30.43pc in July. Cement exports surged 186.86pc in July after having slumped in the same month last year. This indicates a significant recovery in the cement export industry.
The export value of surgical instruments remains negligible as these instruments are re-marketed in Western countries by famous brands. However, Pakistan is one of the main suppliers of global surgical instruments. The export of surgical instruments rose by 2.99pc in July over the same month last year.
Contrary to this, the export of footwear saw a decline of over 31pc in July. Footwear is one of the sectors which saw a growth in exports in FY23. And the export of engineering goods also witnessed a decline of 5.77pc in FY24 from a year ago.
The export of electrical fans dipped by 14.17pc during the month under review. However, pharmaceutical products experienced growth of 8.87pc in July 2023 from a year ago.
The export of sports goods grew by 10.81pc in July from a year ago. The sales of footballs were down 1.50pc. Pakistan was the official football supplier to the FIFA World Cup held in Doha, Qatar in November 2022 which resulted in increasing overall exports of sports in FY23.
The export of jewellery declined 26.19pc during the month under review and that of gems posted a negative growth of 54.16pc.
The rice exports dipped 15.78pc in value and 31.65pc in quantity in July from a year ago.