Footwear exports rise 26% to $37 mln
ISLAMABAD, Nov 1 (APP):The footwear exports from the country witnessed increase of 26.3 percent during the first quarter of the current financial year (2019-20) compared to the corresponding period of last year.
Pakistan exported footwear worth $37.062 million during July-September (2019-20) against the exports of $29.344 million during July-September (2018-19), showing a growth of 26.3 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).
Among the footwear products, the exports of leather footwear witnessed a growth of 22 percent as it surged from $ 26.2 million last fiscal year to $31.961 million during the current year.
However, the canvas footwear exports from the country decreased by 6.06 percent to $0.031 million when compared to the exports of $0.033 million last year.
During the period under review, the exports of all other footwear commodities increased by 62.97 percent and went up from $3.111 million last year to $5.070 million during the current fiscal year.
Meanwhile, on year-on-year basis, the footwear exports increased by 59.62 percent during the month of September 2019 when compared to the same month of last year. The footwear exports during September 2019 were recorded at $ 11.269 million against the exports of $7.060 million in September 2018.
During the month under review, the leather footwear exports increased by 56.03 percent while the canvas footwear exports decreased 71.43 while all other exports witnessing 89.31 percent growth.
On month-on-month, the exports of footwear went down by 12.29 percent during September 2019 when compared to the exports of $12.848 million in August 2019, the PBS data revealed.
On month-on-month basis, the exports of leather footwear decreased by 15.09 percent, canvas footwear by 68.42 percent, however, the exports of all other footwear products increased by10.54 percent.
It is pertinent to mention here that the country’s merchandise trade deficit plunged by 34.85 percent during the first three months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.
The trade deficit during July-September (2019-20) was recorded at $5.727 billion against the deficit of $8.791 billion during July-September (2018-19).
The exports increased from $5.374 billion during last year to $5.522 billion during the current fiscal year, showing growth of 2.75 percent.
On the other hand, the imports into the country witnessed declined of 20.6 percent by falling from $14.165 billion last year to $11.249 billion during the current fiscal year, the data revealed../395
