Footwear exports increase 4.29pc in 11 months
ISLAMABAD – Footwear exports from the country increased by 4.29 percent during the first eleven months of the fiscal year 2019-20 as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The footwear exports during July-May (2019-20) stood at $114.860 million against the exports of $110.140 million in July-May (2018-19), showing growth of 4.29 percent, according to PBS data. Among the footwear products, the exports of leather footwear increased by 1.83 percent by growing from $95.665 million last year to Rs97.413 million during the ongoing fiscal year. Likewise, the exports of canvas footwear increased from $0.245 million last year to $0.351 million during the current year, showing growth of 43.27 percent. The exports of all other footwear products also increased by 20.14 percent by growth from $14.230 million to $17.096 million, the data revealed. However, on year on year basis, the footwear exports during May 2020 decreased by 33.98 percent as compared to the same month of last year. The footwear exports during May 2020 were recorded at $6.428 million as compared to the exports of $9.736 million in May 2019. On month on month basis, the footwear exports, however increased by 57.59 percent during May 2020 when compared to the exports of $4.079 million in April 2020. It is pertinent to mention here that the country’s merchandise trade deficit witnessed significant reduction in the first eleven months of current financial year and declined by 27.77% as compared to the corresponding period of last year.
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The country’s deficit during July-May (2019-20) stood at $21.058 billion against the deficit of $29.154 billion during July-May (2018-19). During the period under review country’s exports registered about 6.87% decrease, by going down from $21.256 billion last year to $19.796 billion during the current year whereas the imports declined from $50.410 billion to $40.854 billion, showing sharp decline of 18.96%.
Article source: https://nation.com.pk/05-Jul-2020/footwear-exports-increase-4-29pc-in-11-months