Non-textile exports flat

The exports of non-textile products witnessed a paltry negative growth of 0.54 per cent in the first two months of the current fiscal year from a year ago, according to data compiled by the Pakistan Bureau of Statistics. The start of 2023-24 saw a continued downward trend in the export of value-added products, contributing significantly to the decline in non-textile products. The export proceeds from the non-textile sector had been stagnant 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 the July-August period of FY24, the exports of leather garments fell year-on-year by 8.31pc in FY24. The exports of raw leather also decreased by 36.89pc during the months under review. The export of carpets and rugs declined by 16.86pc in 2MFY24. Despite a complete slump in FY23, the new fiscal year saw a revival in cement exports, with a surge of 130.24pc.