ISLAMABAD  - Pakistan’s textile exports recorded impressive growth of 7.59 per cent during seven months (July-January) of the ongoing fiscal year 2013-2014.

Country exported textile made commodities worth of $8.04 billion during seven months (July-January) of the ongoing fiscal year as against $7.47 billion of the same period a year ago, revealed the figures of Pakistan Bureau of Statistics (PBS) on Thursday. The trade analysts attributed the healthy growth in textile exports to the improved power supply to the industries.

There is improvement in power supply to the industries this year compared to the previous years, resulting in healthy exports of the country.

According to the PBS figures, export of raw cotton witnessed a growth of 70.21 per cent during July-January period in the year 2013-2014. Meanwhile, export of cotton yarn recorded decline of 5.10 per cent followed by increase in export of cotton cloth of 7.62 per cent. Similarly, the exports of cotton carded registered massive growth of 460 per cent, yarn export surged by 17.22 per cent, knitwear 6.82 per cent, bed wear 19.83 per cent, towels registered negative growth of 5.19 per cent, tenets, canvas and tarpaulin 17.34 per cent in the first seven months of the ongoing fiscal year.

Meanwhile, the food group exports were recorded at $1.78 billion, petroleum group exports at $490 million, other manufacturing group exports at $2.69 billion and leather manufacturing $378 million during period under review. According to the PBS figures, Pakistan’s exports have shown increase of 4.64 per cent in one year, as exports stood at $14.70 billion in first seven months of the ongoing financial year 2013-2014 against $14.05 billion of a year ago. Meanwhile, Pakistan’s oil import bill was recorded at $8.727 billion during July-January of the year 2013-2014 against $8.855 billion of period year ago. The break-up of $8.727 billion revealed that import of crude oil was up by 2.51 per cent to $3.308 billion during July-January 2013 as against $3.227 billon last year. Import of petroleum products fell to $5.419 billion in July-January 2013-14, down by 3.7 per cent from $5.627 billion last year.

Meanwhile, the import of machinery group was recorded at $3.583 billion, transport group at $1.277 billion, textile group $1.443 billion, agricultural and other chemical group $3.768 billion, metal group $1.630 billion, miscellaneous group  $491 million and all other items $2.510 billion during first seven months of the ongoing financial year.