Karachi: The All Pakistan Textile Mills Association (APTMA) has said that the fiscal year 2023 was the worst for the textile sector.
Aptama has said in its data that compared to the last financial year, textile exports have seen a decrease of two billion and eighty one million dollars this year, in the last ten years this year has been very disappointing in terms of growth.
According to Aptama, this decrease in exports is equivalent to the amount of the IMF’s standby program. In June 2023, textile exports decreased by thirteen percent compared to June 2022, compared to one billion seventy-one billion dollars in June 2022. In June 2023, textile exports were one billion and forty-eight million dollars.
According to Aptma, there has been a significant decrease of fifteen percent in textile exports during the financial year 2023, in the twelve months of the fiscal year 2023, textile exports were recorded at 16 billion and fifty one million dollars, in the fiscal year 2022, textile exports were 19 billion. It was worth thirty two million dollars.
According to the data, textile exports have continued to decline for nine consecutive months since October 2022. For the first time in the fiscal year 2022, textile exports had reached nineteen billion and thirty million dollars.
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