Non-textile exports fall 9pc in July

The exports of non-textile products saw a decline of 8.99 per cent 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.