Downturn in exports of non-textile goods
Amid a global economic slowdown, Pakistan’s exports of non-textile products decreased 0.65 per cent year-on-year to $5.54 billion in the first half of FY23.
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 exports since September 2022 on a year-on-year basis, according to data compiled by the Pakistan Bureau of Statistics (PBS).
In FY22, the non-textile exports posted a growth of 25.85pc. In the value-added leather sector, exports of leather garments fell by 6.77pc. The export of leather gloves rose 5.47pc in July-December of 2022-23. Contrary to this, the exports of raw leather also decreased by 8.63pc.
The export of cement dipped by 40.45pc during the first six months this year from a year ago.
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 8.53pc in 6MFY23 over the same period last year. The exports of pharmaceutical products also grew by 26.85pc.
The export of carpets went up by 1.93pc while that of sports goods grew by 27.40pc in 6MFY23. The sales of footballs were up 53.58pc. Pakistan was the official football supplier to the FIFA World Cup held in Doha, Qatar in November 2022.
PBS data showed the food basket posted negative growth of 6.27pc in July-December from a year ago.
Under this category, exports of rice witnessed a negative growth of 13.02pc year-on-year in July-December mainly because of a drop in the demand for basmati rice.