ISLAMABAD - The textile exports from the country increased by 7.24 percent during the first two months of current fiscal year against the exports of same period of last year.

On year-on-year basis, textile exports during August 2013 increased by 3.42 percent in August 2013 when compared to the exports of August 2012.

The overall textile exports during July-August (2012-13) were recorded at $2.305 billion against the exports of $2.149 billion during July-August (2011- 12). The textile products that witnessed surge in trade included raw cotton, exports of which increased by 496pc by going up from $5,590m during the first two months of last year to $33.357m during the current year.

Exports of cotton yarn also increased by 16.77 percent from $333.911 million last year to $389.921 million this year while the exports of cotton cloth increased by 7.71 percent from $434.277 million to $467.774 million.

Exports of yarn other than cotton yarn increased by 3.43 percent to reach at $8.511 from $8.229 last year while the exports of bed wear increased by 5.13 percent from $300.768 million to $316.192 million.

According to PBS data, the exports of tents, canvas and tarpaulin increased from $1.3 million to $1.344 million, an increased of 1.89 million while exports of readymade garments increased from $298.209 million to $324.628 million, showing increase of 8.86 percent.

The exports of made up articles (excluding towels and bedwear) during the period under review increased by 6.47 percent to $104.766 from $98.398 million during last year.

The products that witnessed negative growth in exports included cotton (carded or combed), exports of which declined by 71.79 percent, from $0.319 million to $0.09 million whereas the exports of knitwear decreased by 1.07 percent from $389.374 million to $385.197 million.

Exports of towels also decreased from $128.582 million last year to $119.682 million this year, showing negative growth of 6.92 percent whereas the exports of art, silk and synthetic textile decreased by 2.16 percent from $72.845 million to $71.269 million.

The exports of all other textile commodities increased by 6.59 percent, from $66.251 million last year to $70.856 million this year.

Meanwhile on year-on-year basis, textile exports during August 2013 increased by 3.42 percent in August 2013 when compared to the exports of August 2012. The Textile exports in August 2013 were recorded at $1.095 million against the exports 1.059 million.

However, on month-on-month basis, the textile exports decreased by 9.43 percent by going down from $1.209 billion in July 2013 to $1.095 billion in August 2013, the PBS data revealed.

It is pertinent to mention here that country’s trade deficit narrowed by 3.07 percent during the first two months of the current fiscal year as exports expanded by 3.66 while imports witnessing nominal increase of 0.54 percent as compared to the same period of last year.

On year-on-year basis, the trade deficit decreased by 11.45 percent in August 2013 when compared to the deficit of the same month of last year.

According data, the exports from the country during July-August (2013-14) were recorded at $4.091 billion against the exports of $3.946 billion recorded during July-August 2012-13).

On the other hand, the imports into the country during the first two months of the current fiscal year were recorded at $7.386 billion against the imports of $7.346 during the corresponding months of last year, showing nominal growth of 0.54 percent.

Based on the figures, the trade deficit during July-August (2013-14) was recorded at $3.295 billion against the deficit of $3.400 billion in July-August (2012-13), showing negative growth of 3.07 percent.