Export of sports goods falls 14.29pc in 4 months

ISLAMABAD: The exports of sports goods from the country witnessed decrease of 14.29 percent during the first four months of the ongoing financial year (2020-21) against the exports of corresponding period of last year.

The country exported sports goods worth US $ 87.069 million during July-October (2020-21) against the exports of US $ 101.590 million during July-October (2019-20), showing negative growth of 14.29 percent, according to the latest data released by Pakistan Bureau of Statistics (PBS) here on Wednesday.

During the period under review, the export of footballs decreased by 25.44 percent from US $ 57.383 million last year to US $ 42.782 million during current year while the exports of gloves also declined by 16.36 percent from US $ 27.692 million to US $ 23.161 million.

However, the exports of all other sports good witnessed an increase of 27.92 percent by going up from US $ 16.515 million to US $ 21.126 million during the period under review.

Meanwhile, on year-on-year basis, the exports of sports products during October 2020 were decreased by 21.46 percent to US $ 20.387 million when compared to the exports of US $ 25.957 million during October 2019, the PBS data revealed.

During the period under review, the exports of footballs and gloves dipped by 32.50 and 17.46 percent respectively. However, the export of all other sports products increased by 14.49 percent.

On month-on-month basis, the exports of sports products decreased by 4.54 percent in October 2020 when compared to the exports of US $ 21.356 million in September 2020.

During the month under review, the exports of footballs decreased by 2.28 percent while that of gloves increased by 1.1 percent.

The exports of all other sports products witnessed decline of 14.74 percent during the month, the data revealed.

It is pertinent to mention that the country’s merchandize trade deficit witnessed reduction of 1.88 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 US $ 7.577 billion as compared to the deficit of US $ 7.722 billion during July-October (2019-20), showing decline of 1.88 percent.

During the period under review, the country’s exports registered positive growth of 0.33 percent, by going down from $7.529 billion last year to $7.554 billion during the current year.

On the other hand, the imports decreased by 0.79 percent, from US $ 15.251 billion last year to Us $ 15.131billion during the current year.