Textile Exports Fall Amid Soaring Electricity Prices and Unfavorable Conditions
Textile Exports Reach $1.31 Billion in July 2023
Pakistan-The country’s textile exports have taken a hit, with a noticeable decline at the start of the new fiscal year.
Recent data from the Department of Statistics reveals a 10% drop in textile exports on a monthly basis and a 3% decrease year-over-year.
In July 2024, textile group exports amounted to $1.27 billion, down from $1.41 billion in June 2024. This significant decline highlights the challenges the textile industry is facing due to rising electricity costs and other adverse conditions.
In July 2023, textile exports totaled $1.31 billion, reflecting a decline compared to the same period the previous year. The sector, vital to the country’s economy, has been severely impacted by soaring electricity costs and challenging business conditions.
Also Read:21% Increase in Pakistan’s Trade Deficit on Yearly Basis
As the new fiscal year begins, the textile industry is grappling with these obstacles, raising concerns about their potential effects on the broader national economy.
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