34 Annual Analytical Report on External Trade Statistics of Pakistan 2 0 2 4 F Y proximity and strong trade relations with Middle Eastern countries. 4. Opportunities for Growth: Despite the challenges, several opportunities exist for Pakistan’s made-up article exports in the coming years. To reduce dependence on traditional markets like the U.S. and EU, Pakistan can explore emerging markets in regions such as Africa, South America, and Southeast Asia. These regions are experiencing growth in home textiles and offer new opportunities for Pakistani exporters. By focusing on value-added and high-end products, such as organic textiles and sustainably produced made- up articles, Pakistani exporters can tap into premium markets. Global demand for eco-friendly and ethically produced products is on the rise, and Pakistan’s access to high-quality cotton can give it a competitive advantage. Table 12: Top 20 Made up Textiles Export Market During FY2024 COUNTRY EXPORT VALUE (MILLION US$) FY 2024 FY 2023 % Change MADE UP TEXTILE (EXCLUD ING TOWELS & BEDWEAR) 715 693 3.29 U.S. America 439 439 -0.10 United Kingdom 54 55 -2.06 Germany 48 36 33.32 Netherlands 27 21 29.34 Italy 22 24 -7.98 Belgium 14 13 7.42 France 13 12 7.42 Spain 10 9 11.00 Australia 10 6 67.18 Poland 9 13 -35.45 South Africa 7 7 3.95 Denmark 7 5 33.78 Canada 7 8 -12.76 United Arab Emirates 5 5 -11.20 Saudi Arabia 4 3 55.68 Brazil 4 3 17.32 Ireland 3 4 -25.11 Sweden 3 2 24.32 Greece 3 3 -4.24 Norway 2 2 -7.58 1.1.1.8. Silk & Synthetic Textiles Exports: Pakistan’s textile sector has long been synonymous with its cotton-based products, but in recent years, there has been a growing focus on the export of articles made from silk and synthetic textiles. These materials are increasingly in demand in global markets, owing to their versatility, affordability, and ability to replicate natural fibres like silk at a lower cost. In FY 2024, Pakistan’s export of articles made from silk and synthetic fibres experienced negative growth of 10.9 percent in value, despite a significant increase of 24.5 percent in export quantity. This decline in export revenue, despite higher shipment volumes, can be attributed to several factors. Global market prices for synthetic and silk-based textiles dropped due to increased competition and oversupply from other textile-exporting nations like China and India, driving down unit prices. Additionally, rising production costs within Pakistan, coupled with a devaluation of the currency, squeezed profit margins further. This mismatch between export volume and value growth underscores the challenges Pakistani exporters face in maintaining competitive pricing and profitability in international markets. Table 13: Top 20 Silk & Synthetic Textiles Export Market During FY2024 COUN TRY EXPORT VALUE (MILLION US$) EXPORT QUANTITY (MT) FY 2024 FY 2023 % Change FY 2024 FY 2023 % Change SILK & SYNTHET IC TEXTILE 367 412 -10.9 82,876 66,548 24.5 United Arab Emirates 60 56 6.3 13,242 8,716 51.9 Italy 27 31 -13.8 7,459 4,817 54.8 Saudi Arabia 23 26 -12.0 4,486 3,716 20.7 Germany 21 20 5.9 5,726 4,567 25.4 United Kingdom 17 22 -21.0 3,934 3,250 21.0 Portugal 14 19 -23.1 3,765 2,923 28.8 U.S. Amer ica 14 13 9.9 3,272 2,051 59.5 Romania 14 19 -25.3 3,550 3,066 15.8 Bangla desh 12 12 -5.8 2,359 2,430 -2.9 Mexico 12 13 -10.8 2,219 1,749 26.9 Nether lands 11 16 -31.7 2,886 2,907 -0.7 South Africa 9 11 -19.6 1,799 1,575 14.3 Poland 9 11 -20.3 2,014 1,441 39.8 Lithuania 8 4 102.4 1,640 788 108.0 Nigeria 8 5 56.9 1,203 826 45.5 Spain 7 7 5.5 1,900 1,083 75.5 Argentina 7 11 -33.3 1,451 1,774 -18.2 Belgium 7 10 -27.5 1,904 1,640 16.1 Sri Lanka 6 6 -4.2 980 762 28.6 Turkey 5 7 -22.3 1,179 1,292 -8.7 Key Export Markets for Silk & Synthetic Textiles In FY 2024, Pakistan’s articles of silk and synthetic textiles were exported to a wide range of markets, with the largest demand coming from UAE, Europe, the United States, and emerging markets in Asia and Africa.
Annual Analytical Report on External Trade Statistics of Pakistan 2 0 2 4 F Y 35 SECTION-1 2024 1.1.2. Agriculture & Food Exports Agriculture & Food exports saw a significant rise of 46.8 percent, reaching US $7.370 billion during FY 2024, compared to US $5.021 billion in the same period the previous year. Among the key contributors were rice, fruits, spices, oil seeds, nuts, and kernels, all of which recorded positive growth. This increase in food exports can be attributed to improved productivity, better pricing, and stronger global demand. An analysis of the food group shows that rice exports saw a substantial increase, with quantities rising by 62.1 percent and the value surging by 82.9 percent. Basmati rice exports grew by 29.9 percent in quantity and 34.8 percent in value during FY 2024. Similarly, non-basmati rice experienced a significant rise, with a 68.2 percent increase in quantity and a 103.8 percent surge in value during the same period. After rice, oil seeds, nuts, kernels saw a notable rise, with quantities up by 43.3 percent and value increasing by 117.2 percent. Table 14: Exports of Agriculture & Food Group by Commodity During FY2024 Commod ities EXPORT VALUE (MILLION US$) EXPORT QUANTITY (MT) FY 2024 FY 2023 % Change FY 2024 FY 2023 % Change AGRI CULTURE & FOOD EXPORT 7,370 5,021 46.8
RICE 3,932 2,149 82.9 6,027,150 3,718,658 62.1 a) BASMATI 877 651 34.8 773,995 595,617 29.9 b) NON-BAS MATI 3,055 1,499 103.8 5,253,155 3,123,041 68.2 MEAT AND MEAT PROD UCT 512 426 20.2 123,419 99,892 23.6 VEGETABLES 430 300 43.2 1,261,681 1,336,942 -5.6 FISH & FISH PRODUCT 410 497 -17.4 199,738 214,542 -6.9 OIL SEEDS, NUTS AND KERNALS 410 189 117.2 248,396 173,367 43.3 FRUITS 344 283 21.3 927,509 627,133 47.9 SPICES 110 94 16.8 36,216 21,822 66.0 TOBACCO 64 64 0.8 18,120 24,773 -26.9 SUGAR 21 105 -79.8 33,101 215,756 -84.7 PULSES 0.24 0.05 383.9 269 50 438.4 WHEAT
ALL OTHER FOOD ITEMS 1,137 915 24.2
This growth was driven by higher sesame seed production and strong demand from China, Korea, and Japan. Additionally, spice exports grew by 66.0 percent in quantity and 16.8 percent in value during the same period. Meat and meat preparation exports grew by 23.6 percent in quantity and 20.2 percent in value during FY 2024. This growth is largely due to the opening of new markets in Jordan, Egypt, and Uzbekistan, along with the registration of additional firms for meat exports to the UAE, Saudi Arabia, and other GCC countries. Additionally, Malaysia approved three more slaughterhouses for export processing, while China granted access to one meat exporter for heat- treated meat shipments. The fish and fish preparation subgroup experienced a notable decline during FY 2024, with quantities dropping by 6.9 percent and value by 17.4 percent. A major challenge for Pakistani seafood exports is the US ban on shrimp exports due to non-compliance with Turtle Excluder Device (TED) regulations, a restriction also imposed by the EU. Additionally, the quality of seafood exports is hampered by several issues, including inadequate storage capacity, mishandling of fish catches, non-compliance with Sanitary and Phytosanitary (SPS) measures, and the lack of modern processing machinery. 1.1.1.9. Rice Exports TIn FY 2024, Pakistan’s rice exports showed notable performance, driven by both basmati and other rice varieties. The rice export sector remains a key contributor to Pakistan’s agricultural export earnings, and FY 2024 was no exception. The remarkable 82.9 percent growth in rice exports can be attributed to several key factors. First, increased demand from importing countries, especially following India’s ban on white rice, was a major driver. Table 15: Monthly Exports of Rice During FY2024 MONTH BASMATI RICE OTHER RICE (MILLION US$) (MILLION US$) (MILLION US$) 39.346 77.756 August 55.244 61.646 September 64.148 108.248 October 66.996 237.405 November 61.044 347.467 December 80.687 437.930 January 89.381 388.140 February 82.553 319.510 March 82.948 330.455 April 76.861 274.815 May 74.777 270.660 June 103.094 200.676 TOTAL EXPORT 30,675 27,724
36 Annual Analytical Report on External Trade Statistics of Pakistan 2 0 2 4 F Y Additionally, favourable market conditions, higher production, and government-led efforts to promote rice exports played a crucial role. Initiatives such as expanding the number of registered rice export companies for markets like Russia and China, setting Minimum Export Prices for various rice varieties in collaboration with stakeholders, and introducing strict testing protocols for rice exports all contributed to this impressive surge. Table:15 summarizes Pakistan’s monthly rice exports (in million US$) for basmati and other rice varieties: Key Trends 1. Basmati Rice Exports: Basmati rice showed steady growth throughout the entire FY 2024, peaking in March at around US$ 103.09 million. The demand for basmati rice remains high in traditional markets, although seasonal variations impacted monthly figures. 2. Other Rice Varieties: Other rice varieties demonstrated consistent growth, particularly in November, December, and January. The highest export value was recorded in December at US$ 437.93 million, driven by increased demand from Asian and African markets. Key Export Markets for Pakistani Rice In FY 2024, Pakistan’s basmati rice exports showed remarkable growth, increasing by 34.8 percent in value to US$877 million and 29.9 percent in quantity to 773,995 metric tons compared to FY 2023. Key markets such as Saudi Arabia and Afghanistan demonstrated extraordinary demand, with export values surging by 81.4 percent and 1,007.6 percent, respectively. In Saudi Arabia, the quantity exported grew by 80.4 percent, while Afghanistan saw a staggering 600.3 percent rise, reflecting strong market penetration. Other notable increases included Oman (39.7% in value, 36.5 percent in quantity) and Italy (58.4 percent in value, 42.4 percent in quantity), highlighting Pakistan’s growing reach in both Middle Eastern and European markets. However, declines were observed in certain regions, such as Kenya (-20.8 % in value, -33.6 percent in quantity) and Sweden (-19.9 percent in value, -20.9 percent in quantity), underlining challenges in maintaining consistent market shares. Despite some setbacks, Pakistan’s robust performance in major export destinations like the UAE, UK, and Yemen underscores the potential for continued growth in global basmati rice trade. Table 16: Top 20 Basmati Rice Exports Market During FY2024 COUNTRY EXPORT VALUE (MILLION US$) EXPORT QUANTITY (MT) FY 2024 FY 2023 % Change FY 2024 FY 2023 % Change RICE BAS MATI 877 651 34.8 773,995 595,617 29.9 United Arab Emirates 150 139 7.8 149,092 149,232 -0.1 Saudi Arabia 112 62 81.4 101,909 56,506 80.4 Afghanistan 83 7 1,007.60 75,674 10,806 600.3 Oman 71 51 39.7 58,249 42,674 36.5 Italy 60 38 58.4 46,004 32,298 42.4 Yemen 56 15 281.1 51,159 12,887 297 United King dom 45 32 39.8 37,395 25,162 48.6 U.S. America 31 31 1.5 22,276 21,066 5.7 Netherlands 30 33 -7.8 24,766 25,857 -4.2 Germany 21 21 -0.1 16,275 16,241 0.2 Australia 19 15 28.7 16,675 13,983 19.3 Canada 19 16 21 14,578 11,538 26.3 France 19 16 19.5 15,076 10,816 39.4 Belgium 15 18 -15.7 12,363 13,363 -7.5 Kenya 12 16 -20.8 12,700 19,130 -33.6 Sweden 12 15 -19.9 8,946 11,305 -20.9 Somalia 11 8 40.7 10,931 10,114 8.1 Sri Lanka 8 2 252.1 7,379 2,426 204.2 Qatar 7 7 1.7 5,188 5,178 0.2 South Africa 7 9 -28 5,505 7,129 -22.8 During FY 2024, Pakistan’s export of non-basmati rice witnessed notable growth, showcasing the country’s strong position in the global rice market. The export value of non-basmati rice increased significantly, driven by steady demand from key markets in Asia, Africa, and Europe. Pakistan’s competitive pricing, coupled with its focus on maintaining quality, enabled it to penetrate new markets and strengthen its foothold in existing ones. The rise in export quantities highlights the resilience of the country’s agricultural sector despite challenges such as fluctuating global demand and rising input costs. Major importers of non-basmati rice included China, Kenya, and several Middle Eastern nations, where Pakistan benefited from favourable trade agreements and robust buyer confidence in its products. However, challenges remained in the form of stiff competition from regional exporters such as India and Vietnam, both of whom continue to dominate the global rice market. Additionally, logistical hurdles, including port inefficiencies and high freight costs, affected the profitability of non-basmati rice exports. To sustain and further enhance this growth, Pakistan must invest in modernizing its rice production and processing infrastructure. Expanding into value-added products like parboiled rice and focusing on diversifying export destinations can also help reduce dependency