Leather Exports Increases 5.25% In 4 Months

The leather manufactures exports from the country witnessed an increase of 5.25 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 - 3rd Dec, 2020 ) :The leather manufactures exports from the country witnessed an increase of 5.25 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 leather worth US $190.856 million during July-October (2020-21) against the exports of $181.338 million during July-October (2019-20), showing growth of 5.25 percent, according to the Pakistan Bureau of Statistics (PBS).

Among the Leather products, the exports of leather garments increased by 0.36 percent, from $99.941 million last year to $100.303 million during the current year.

The leather gloves exports also rose by 9.71 percent by going up from $77.573 million to $ 85.103 million.

Likewise, the exports of all other leather manufactures commodities also increased by 42.52 percent during the period under review as these went up from $3.824 million last year to $5.450 million during the current fiscal year.

Meanwhile, year-on-year basis, the leather exports however witnessed a decrease of 9.47 percent during the month of October 2020 compared to the same month of last year.

The leather exports during October 2020 were recorded at $45.123 million against the exports of $49.844 million in October 2019.

During the period under review, the leather garments and leather gloves exports also declined by 8.

24 and 12.49 percent respectively, In addition, the exports of all other leather manufactures however increased by 26.09 percent.

On month-on-month basis, the exports of leather manufactures decreased by 5.03 percent during October 2020 as compared to the exports of $47.515 million in September 2020, the PBS data revealed.

On month-on-month basis, the exports of leather garments and leather gloves decreased by 9.10 and 0.97 percent respectively while the export of all other leather manufactures rose by 6.58 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.