Sports goods’ exports decrease by 2% in 5 months of current FY 2019-20

837

Islamabad

The exports of sports goods from the country witnessed declined of 2.01 percent during the first five months of current financial year (2019-20) as against the exports of corresponding period of last year.
The country exported sports goods worth $ 124.514 million during July-November (2019-20) against the trade of $ 127.065 million during July-November (2018-19), showing negative growth of 2.01 percent, Pakistan Bureau of Statistics (PBS) reported.
The sports products that contributed in negative growth included gloves, exports of which decreased from $ 46.144 million to $33.467 million, showing decline of 27.47 percent.
However, the exports of footballs increased by 14.73 percent by going up from $61.118 million last year to $ 70.123 million during the period under review while the exports of all other sports products went up from $ 19.803 million to $ 20.924 million, witnessing upward growth of 5.66 percent.
Meanwhile, on year-on-year basis, the exports of sports products during November 2019, increased by 4.20 percent to $ 24.027 million when compare to the exports of $23.058 million during November 2018, the PBS data revealed.
During the period under review, the exports of gloves decreased by 16.08 percent while the export of footballs and other sports products increased by 15.38 and
13.76 percent respectively.
On month-on-month basis, the exports of sports products decreased by 3.33 percent in November 2019 when compared to the exports of $ 24.854 million in October 2019.
During the month under review, the exports of gloves and other sports products increased by 17.28 and 20.89 percent respectively while the export of footballs decreased by 16.99 percent, the data revealed.
It is pertinent to mention here that the country’s merchandise trade deficit plunged by 33.67 percent during the first six 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-December (2019-20) was recorded at $ 11.628 billion against the deficit of $16.771 billion during July-December (2018-19), the data revealed.
The exports during the period increased from $ 11.181 billion during last year to $11.535 billion during the current fiscal year, showing growth of 3.17 percent.—APP