ISLAMABAD, Feb 21: Pakistan’s exports of textile and clothing witnessed more than eight per cent growth during the first seven months of the current fiscal year over the same months last year.

In absolute terms, export proceeds of textile and clothing sector reached $7.509 billion in July-January period this year as against $6.928 billion over the corresponding period of last year, reflecting an increase of 8.33pc.

The overall increase in exports was the outcome of continued rise in export of these products since September 2012 owing to a slight surge in demand from key markets of Europe and United States, suggested data of Pakistan Bureau of Statistics released on Thursday.

On monthly basis, export of textile and clothing witnessed a growth of 8.72 per cent growth in January over the corresponding month of last year.

It posted a growth of over 12 per cent in December, 23.54 per cent in November from a year ago. The growth in export was 10.54 per cent in October, and 12.91 per cent in September.

The growth is mainly driven by substantial increase in export proceeds of ready-made garments, towels and other low value products, such as cotton yarn and cotton cloth, but export of raw cotton witnessed a decline in January over the previous year.

The increase in export of textile and clothing sectors resulted in an overall growth in exports of the country by 7.24 per cent to $14.068 billion in July-Jan period this year as against $13.117 billion in the corresponding period of last year.

A sector-wise analysis showed that export of ready-made garments went up by 12.51 per cent, knitwear 0.92 per cent and towels 18.02 per cent in first seven months this year over the corresponding period of last year.

Export of low value-added products, such as cotton yarn was up by 32.44 per cent, cotton cloth 12.16 per cent, yarn other than cotton yarn 31.48 per cent, made-up articles 6.81 per cent and other textile material 56.80 per cent in July-Jan this year over same months last year.

Industry sources said consistent supply of gas in July-Jan period to textile sector produced the desired results.

The growth in yarn and fabric exports was mainly because of improved energy supply.

The full capacity utilisation of production caused growth in export of home textile towels and bed-wear as well.

Statistics shows that exports of raw cotton declined by 56.57 per cent, cotton carded 84.53 per cent, bed wear 3.80 per cent, art and silk 17.73 per cent, respectively during the July-Jan period this year over last year.