Sports goods’ exports dip 5.93pc in two months

585

Islamabad

The exports of sports goods from the country witnessed decrease of 5.93 percent during the first two months of current financial year (2019-20) as against the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.
The country exported sports goods worth US $ 52.603 million during July-August (2019-20) against the trade of US $ 55.919 million during July-August (2018-19), showing negative growth of 5.93percent, the PBS data revealed. The sports products that contributed in negative growth included gloves, exports of which decreased from US $ 14.921 million to US $ 23.151 million, showing decline of 35.55 percent.
However, the exports of footballs increased by 14.94 percent by going up from US $ 25.040 million last year to US $ 28.781 million during the period under review while the exports of all other sports products went up from US $ 7.728 million to US $ 8.901 million, witnessing upward growth of 15.18 percent. Meanwhile, on year-on-year basis, the exports of sports products during August 2019, increased by 8.16 percent to US $ 27.878 million when compare to the exports of US $ 25.775 million during August 2018.
During the month under review, the exports of gloves decreased by 2.53 percent while the footballs and other sports products increased by 11.26 percent and 18.83 percent respectively. On month-on-month basis, the exports of sports products increased by 12.75 percent in August 2019 when compared to the exports of US $ 24.725 million in July 2019, the data revealed.
During the month under review, the exports of footballs, gloves and other sports products went up by 8.63 percent, 12.55 percent and 27.65 percent respectively.
It is pertinent to mention here that the trade deficit during first two months of the current fiscal year dipped by 35.86 percent as compared to the corresponding period of last year. The trade deficit during July-August (2019-20) was recorded at US $ 3.924 billion against the deficit of US $ 6.118 million in July-August (2018-19), the data revealed.—APP