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.