Non-textile exports fall over 3pc in February

ISLAMABAD: Exports of non-textile value-added products registered a year-on-year growth of 0.47 per cent in the first eight months of the current fiscal year, a healthy sign of getting more orders from the international market.

The non-textile products exports did not include the export value of food products during the period under review.

In absolute terms, the value of non-textile products reached $4.24 billion in July to February FY24 against $4.22bn in the corresponding months of last year, according to data compiled by the Pakistan Bureau of Statistics.

In February, the export of these commodities posted a negative growth of 3.26pc to $473.37m this year against $489.33m over the same month last year.

The export of engineering goods saw an increase of 71pc in February followed by 6.73pc growth in leather goods. The exports of these two commodities revived in February while a few other commodities also saw an increase.

In 8MFY24, the export of footwear dropped 12.06pc and leather garments 10.97pc year-on-year in July-February FY24. The decline was also observed in leather gloves. The exports of raw leather also decreased by 22.43pc during the period under review.

Pakistan is one of the main suppliers of global surgical instruments. However, the export value of these instruments remained negligible during July-February FY24 over the same months last year as these are re-marketed in Western countries by famous brands. It recorded a negative growth of 2.36pc during the months under review.

The export of carpets and rugs declined by 19.23pc in 8MFY24. The export of sports goods also declined 6.63pc. The export of gur products (which are not classified under the food category) saw an increase of 27.44pc in 8MFY24 from a year ago.

The export of jewellery surged by 39.84pc in 8MFY24, followed by a 3.82pc rise in the export of electric fans. However, the export of gems declined by 6.19pc, furniture 36.76pc, molasses 34.53pc and handicrafts 54.55pc. Contrary to a slump in FY23, the cement exports jumped 39.26pc in 8MFY24. The export of chemical products also saw a growth of 1.74pc in 8MFY24 from a year ago.

Petroleum crude exports remained zero, whereas the foreign shipments of petroleum products surged 303pc. The start of 2023-24 saw a continued downward trend in the export of value-added products, significantly impacting non-textile products as well.

However, the exports of food products posted robust growth during the period under review turning many essential food commodities particularly beef, chicken and rice beyond the reach of consumers.