Pakistan’s textile exports dropped 16.1 per cent to $1.002 billion in July 2018 compared to shipments recorded in June, which stood at $1.194 billion. On a year-on-year basis, textile exports in July did not show any improvement. In fact, they fell half a per cent as exports were slightly better at $1.007 billion in July 2017.
The market had been expecting better performance from textile exporters following 18 per cent rupee depreciation in the past nine months, but exports dropped significantly on a month-on-month basis and nominally on a year-on-year basis. Textile exports roughly make up 60 per cent of Pakistan’s total exports.