Footwear exports decrease by 8.66pc in 5 months

ISLAMABAD: The footwear exports witnessed a decrease of 8.66 percent during the first five months of current financial year (2020-21) as compared to the exports of corresponding period of last year.

Pakistan exported footwear worth US $51.546 million during July-November (2020-21) against the exports of $56.435 million during July-November (2019-20), showing a decline of 8.66 percent, according to the Pakistan Bureau of Statistics (PBS).

Among the footwear products, the exports of leather footwear decreased by 9.13 percent as it went down from $43.750 million last year to $48.147 million during the current year.

The canvas footwear exports from the country witnessed growth of 63.39 percent by growing from Just US $ 0.112 million last year to US $ 0.183 million during the current year, the PBS data revealed.

Likewise, the exports of all other footwear commodities also dipped by 6.89 percent during the period under review as these went down from $8.176 million last year to $7.613 million during the current fiscal year.

Meanwhile, year-on-year basis, the footwear exports declined by 20.05 percent in November 2020 when compared to the export of the same month of last year. The footwear exports in November 2020 were recorded at $8.957 million against exports of $11.203 million in November 2019.

During the period under review, the leather and canvas footwear exports decreased by 26.65 and 55.17 percent respectively whereas the exports of all other footwear products increased by 21.06 percent.

Meanwhile, on month-on-month basis, the exports of footwear decreased by 2.03 percent during November 2020, as compared to the exports of $9.143 million in October 2020, the PBS data revealed.

On month-on-month basis, the exports of leather and canvas decreased by 4.5 percent and 87.38 percent respectively while the exports of all other footwear rose by 14.21 percent.

It is pertinent to mention here that the country’s merchandize exports increased increased by 4.98 percent during the first half (H1) of the current fiscal year (2020-21) as compared to the corresponding period of last year.

The exports from the country during July-December (2020-21) were recorded at $12.098 billion against the exports of $11.524 billion during July-December (2019-20), according to the latest PBS data.

The imports into the country during the period under review also increased by 5.72 percent by growing from $23.195 billion last year to $24.521 billion during the first half of current fiscal year.

Based on the figures, the country’s trade deficit increased by 6.44 percent during the first half compared to the corresponding period of last year. The trade deficit during the first six months of the current fiscal year was recorded at $12.423 billion against the deficit of $11.671 billion last year.