Non-textile exports turn in flat performance in 1QFY23
ISLAMABAD: Pakistan’s exports of non-textile products posted a paltry growth of 0.77 per cent year-on-year to $2.59 billion in the first quarter of the current fiscal year, data compiled by the Pakistan Bureau of Statistics (PBS) showed on Thursday.
The stagnation in export proceeds of the non-textile sector was noted since the start of the current fiscal year as demand slowed down in the buyers’ market. No growth was recorded in September on a year-on-year basis.
In FY22, the non-textile exports posted a growth of 25.85pc.
In the value-added leather sector, exports of leather garments grew by 2.99pc. The export of leather gloves rose 7.24pc in July-September of 2022-23. Contrary to this, the exports of raw leather increased by 1.70pc in the first quarter.
Pakistan is one of the main suppliers of global surgical instruments. However, these instruments are re-marketed in western countries by famous brands. As a result, the export value of these products remains very negligible.
The export of surgical instruments rose 9.96pc in 1QFY23 over the same period last year. The exports of pharmaceutical products also grew by 14.15pc.
The export of footwear increased by 27.07pc year-on-year led by leather and canvas footgear. The export of engineering products was up 18.22pc year-on-year in July-September. However, the export of electric fans increased by 26.97pc during 1QFY23.
The export of carpets went up by 13.85pc, while that of sports goods was up 31.18pc during 1QFY23 from a year ago. In the sports sector, the sales of footballs were up 59.10pc in July-September from a year ago. Pakistan is the official football supplier to the next FIFA World Cup to be started in November in Doha, Qatar.
The government has proposed several measures including a reduction in duty on raw materials to promote exports of pharmaceutical, plastic, chemicals, engineering, and value-added textile products.
PBS data showed the food basket posted growth of 5.70pc in July-September from a year ago.
Under this category, exports of rice witnessed a negative growth of 5.10pc year-on-year in July-September mainly because of a drop in the demand for basmati rice. The break-up showed that basmati exports in value decreased by 15.47pc and 29.01pc in quantity while non-basmati exports were up by 0.82pc in value. The export of spices dipped by 18.74pc, followed by oilseeds, nuts by 17.67pc, and fruits by 30.76pc, respectively.
The export of meat and products was up 21.68pc, followed by the export of fish products increased by 40.20pc, vegetables by 44.34pc and tobacco increased by 74.66pc in July-September 2022 over the last year month.
Published in Dawn, October 21st, 2022