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. 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.