ISLAMABAD, April 21: Export of textile products geared up to $8.027 billion mark in the first nine months (July-March) of the current fiscal year up 7.01 per cent from $7.501 billion over the same period of the last year.

Official figures released here on Saturday by the Federal Bureau of Statistics (FBS) showed that export of almost all products, excluding raw cotton, cotton cloth, and cotton carded and bedwear recorded marginal growth during the first nine months of the current fiscal year over the last year.

Export of readymade garments witnessed a growth of 8.65 per cent to $1.052 billion during the July-March period of the current fiscal as against $968.472 million over the same period of the last year. A growth of 10.77 percent in export of readymade garment was recorded in the month of March 2007 over the same month last year.

The growth in export of garments was 31 per cent, 15 per cent, 17 per cent and 7.05 per cent in November, December 2006, January and February 2007, respectively, as compared to the growth in the same months last year.

Statistics showed that export of knitwear also recorded a growth of 15.15 per cent during July-March 2006-07 to $1.469 billion as against $1.275 billion over the same period of the last year.

Export of raw cotton, cotton cloth, and cotton carded and bedwear recorded a negative growth by 14.50 per cent, 6.95 per cent, 51.05 per cent and 2.36 per cent, respectively, during July-March 2006-07 over the same months last year.

Export of cotton yarn and other yarn was up by 3.41 per cent and 145.30 per cent, towels 2.11 per cent, tents, canvas 133.23 per cent, art, silk and synthetic textile 159.28 per cent, made-up articles 5.41 per cent and other textile materials 21.29 per cent during the period under review over last year.

With this marginal growth, it was expected that the textile export proceeds would touch the figure of $11 billion by end June this year. However, this growth in export of textile products was mainly attributed to massive subsidies and other financial assistance announced by the government for the sector.