According to figures from Pakistan’s Bureau of Statistics, the textile industry saw record-high exports for the year ending June 30, 2022, totaling $19.3 billion, a growth of 26% from the previous year.
Three things, according to local brokerage Topline Securities, contributed to this growth: a 16 percent increase in export volume, a “steep” surge in worldwide demand, and record cotton prices. As of this past May, the business claimed, cotton cloth exports were up 27% annually. While this is going on, Dr. Gohar Ejaz, the patron-in-chief of the All Pakistan Textile Mills Association, has predicted that textile exports will increase by more than 20 percent during the fiscal year 2023, assuming that the national government maintains its policy of exporting energy with regionally competitive energy tariffs.
According to Dr. Mirza Ikhtiar Baig, chairman of the Baig Group, denim and cotton fabrics make approximately 24% of the country’s textile market. (Baig Group is the owner of PDL Denim in Karachi.)