Textile and clothing exports shrink in July

Textile and clothing exports contracted by 3.09 per cent in the first month of FY25, indicating that the sector may struggle to compete with regional rivals due to the implementation of harsh taxation measures in the current fiscal year. According to the Pakistan Bureau of Statistics data issued on Thursday, the impact of the new tax measures and the highest-ever energy costs is evident in the July export results. The decline in exports of textiles and clothing, which had the largest share of over 60pc in total exports for the second consecutive month after a negative growth of 0.93pc in June, was due to the government’s announcement of export-biased measures in its recent budget, which the top textile exporters opposed.