AKD Securities Limited - AKD Daily.

Karachi -- January 23, 2023 (PPI-OT)

Pakistan Textile: Dec'22 Textile Exports declined by 4.6% MoM

PBS data has shown Textile exports clocking in at US$1.36bn in Dec'22, lower by 4.6%MoM mainly attributable to the decrease in the value added exports (down by 6.7% MoM). On a cumulative basis, 6MFY23 exports have clocked in at US$8.72bn, lower by 7.1%YoY.

The sequential decrease can be attributed to industry-wide slowdown with disposable income dropping in export destinations, along with operational challenges in the form of heightened input costs and increased finance costs.

The data indicates that exporters have had to offer lower prices in a bid to increase...