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Footwear exports decrease 2.53pc

Footwear exports decrease 2.53pc

ISLAMABAD: The footwear exports from the country witnessed decrease of 2.53 percent during the first month of current financial year (2020-21) compared to the corresponding period of last year.

Pakistan exported footwear worth $12.617 million during July 2020 against the exports of $12.945 million during July 2019, showing negative growth of 2.53 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).

Among the footwear products, the exports of leather footwear witnessed nominal increase of 0.80 percent as it surged from $ 10.905 million last year to $10.992 million during the current year.

The canvas footwear exports from the country witnessed decline of 100 percent whereas the exports of all other footwear commodities also decreased by 20.07 percent during the period under review from $2.033 million last year to $1.625 million during July 2020.

On month-on-month, the exports of footwear however witnessed grew of 13.87 percent during July 2020 when compared to the exports of $11.080 million in June 2020, the PBS data revealed.

On month-on-month basis, the exports of leather also increased by 12.62 percent whereas the export of canvas decreased by 100 percent and all other footwear increased by 26.46 percent.

It is pertinent to mention here that the trade deficit during the first month of the current fiscal year dipped by 7.72 percent as compared to the corresponding period of last year.

The trade deficit during July 2020 was recorded at $1.686 billion against the deficit of $1.827 million in July 2019, the data revealed.

During the month under review, the exports from the country increased by 6.10 percent, from $1.886 billion last year to $2.001 billion during the current year.

On the other hand, the imports witnessed negative growth of 0.70 percent by falling from $3.713 billion last year to $3.687 billion this year.