Footwear Exports Decrease 5.82% In 4 Months

The footwear exports from the country witnessed a decrease of 5.82 percent during the first four months of current financial year (2020-21) as compared to the exports of corresponding period of last year

ISLAMABAD (UrduPoint / Pakistan Point News - 1st Dec, 2020 ) :The footwear exports from the country witnessed a decrease of 5.82 percent during the first four months of current financial year (2020-21) as compared to the exports of corresponding period of last year.

Pakistan exported footwear worth US $42.599 million during July-October (2020-21) against the exports of $45.231 million during July-October (2019-20), showing negative growth of 5.82 percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of footwear also witnessed nominal decline of 0.06 percent by going down from 5,002 Th. pairs to 4,999 Th. pairs.

Among the footwear products, the exports of leather footwear declined by 4.60 percent as it down from $38.540 million last year to $36.769 million during the current year.

The canvas footwear exports of the country stood at just $ 0.074 million during the current year against $ 0.082 million during last year, showing decrease of 7.96 percent.

Likewise, the exports of all other footwear commodities also dipped by 12.91 percent during the period under review as these went down from $6.609 million last year to $5.756 million during the current fiscal year.

Meanwhile, year-on-year basis, the footwear exports however witnessed an increase of 13.02 percent during the month of October 2020 compared to the same month of last year.

The footwear exports during October 2020 were recorded at $9.

152 million against the exports of $8.098 million in October 2019.

During the period under review, the leather and other footwear exports also increased by 14.87 and 8.48 percent respectively, In addition, the exports of canvas footwear decreased by 87.76 percent.

On month-on-month basis, the exports of footwear witnessed decreased of 22.41 percent during October 2020 as compared to the exports of $11.796 million in September 2020, the PBS data revealed.

On month-on-month basis, the exports of leather and canvas decreased by 28.45 and 90.63 percent respectively while the export of all other footwear rose by 28.28 percent.

It is pertinent to mention here that the overall merchandize trade deficit decreased by 1.36 percent during the first four months of current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year.

The deficit during July-October (2020-21) was recorded at $7.617 billion as compared to the deficit of $7.722 billion, showing decrease of 1.36 percent.

During the period under review, the country's exports registered positive growth of 0.62 percent, by going up from $7.529 billion last year to $7.576 billion during the current year.

On the other hand, the imports decreased by 0.38 percent, from $15.251 billion last year to $15.193 billion during the current year.