In the first five months of the current financial year (2020-21), footwear exports decreased by 8.66 percent compared to exports in the same period last year.
During July-November (2020-21), Pakistan exported footwear worth US $51,546 million against exports of $56,435 million during July-November (2019-20), showing a decrease of 8.66 per cent, according to the Pakistan Bureau of Statistics (PBS).
Exports of leather footwear among footwear items decreased by 9.13 percent as it decreased from $43.750 million last year to $48.147 million during the current year.
The PBS data revealed that the country’s canvas footwear exports increased 63.39 percent from just US $ 0.112 million last year to US $ 0.183 million during the current year.
Similarly, during the time under study, exports of all other footwear goods also decreased by 6.89 percent, as they decreased from $8,176 million last year to $7,613 million during the current fiscal year.
Meanwhile, on a year-on-year basis, exports of footwear decreased by 20.05% in November 2020 compared to exports in the same month last year. Exports of footwear were registered at $8,957 million in November 2020, compared to exports of $11,203 million in November 2019.
Exports of leather and canvas footwear decreased 26 times during the period under study.
65 and 55.17%, respectively, while exports of all other footwear products rose by 21.06%.
Meanwhile, in November 2020, exports of footwear decreased by 2.03 percent on a month-on-month basis, compared to exports of $9,143 million in October 2020, according to PBS data.
Leather and canvas exports decreased by 4.5 percent and 87.38 percent, respectively, on a month-on-month basis, while exports of all other footwear increased by 14.21 percent.
It should be noted here that, during the first half (H1) of the current fiscal year (2020-21), the country’s merchandise exports increased by 4.98 percent compared to the same duration last year.
According to the most recent PBS data, exports from the country during July-December (2020-21) were reported at $12,098 billion against exports of $11,524 billion during July-December (2019-20).
Imports to the country have rose by 5.72 percent during the time under review, increasing from $23.195 billion last year to $24.521 billion during the first half of the current fiscal year.
During the first half, the country’s trade deficit rose by 6.44 percent compared to the same period of last year, based on the estimates. The trade deficit was estimated at $12,423 billion during the first six months of the current fiscal year, compared to a deficit of $11,671 billion last year.