Textile exports drop by 16% after rebate reduction

Pakistan’s textile exports dropped by 16.1% to the US $1.002 billion in July 2018 compared to shipments recorded in June, which stood at US $1.194 billion.

On a year-on-year basis, textile exports in July did not show any improvement. In fact, they fell half a percent as export figures were slightly better at $1.007 billion in July 2017.

The market had been expecting better performance from textile exporters following 18% 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% of Pakistan’s total exports.

 

 
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