ISLAMABAD: Pakistan’s exports of non-textile products saw a paltry growth of 1.33 per cent in the first quarter of the current fiscal year from a year ago.
The growth was observed despite a sharp drop in the country’s main exports of textiles and clothing in the same period, 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, significantly impacting non-textile products as well.
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-September period of FY24, the exports of leather garments fell by 8.32pc year-on-year in FY24. The exports of raw leather also decreased by 29.66pc during the months under review.
The export of carpets and rugs declined by 24.75pc in 3MFY24. Despite a complete slump in FY23, the new fiscal year saw a revival in cement exports, with a surge of 43.85pc. The growth in cement quantity was also noted as it grew by 35.90pc in the first quarter of FY24 from a year ago.
The export value of surgical instruments remains negligible as these instruments are re-marketed in Western countries by famous brands. However, Pakistan is one of the main suppliers of global surgical instruments. The export of surgical instruments posted a paltry growth of 0.88pc in July-September over the same months last year.
Contrary to this, the export of footwear saw a decline of over 15.90pc in July-September from a year ago. Footwear is one of the sectors which saw a growth in exports in FY23. The export of engineering goods also witnessed a decline of 4.70pc in FY24 from a year ago.
The export of jewellery witnessed an increase of 11.47pc in the first quarter of FY24 from a year ago, followed by 11.91pc in the export of gur and gur products. However, the export of gems declined by 38.75pc, furniture 41.95pc, molasses 31.31pc, and handicrafts 57.73pc.
