Sports goods’ exports dip over 3pc

1320

Islamabad

The exports of sports goods from the country witnessed declined of 3.94 percent during the first four months of current financial year (2019-20) as against the exports of corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.
The country exported sports goods worth $ 99.906 million during July-October (2019-20) against the trade of $104.007 million during July-October (2018-19), showing a decline of 3.94 percent, the PBS data revealed.
The sports goods that showed decline including gloves, exports of which decreased from $ 38.159 million to $26.217 million, showing decline of 31.30 percent.
However, the exports of footballs increased by 14.66 percent by going up from $ 50.079 million last year to $ 57.419 million during the period under review while the exports of all other sports products went up from $ 15.769 million to $ 16.270 million, witnessing upward growth of 3.18 percent.
Meanwhile, on year-on-year basis, the exports of sports products during October 2019, decreased by 4.17 percent to $ 24.854 million as compared to the exports of $ 25.936 million during October 2018.
During the period under review, the exports of footballs increased by 17.69 percent while the export of gloves and other sports products decreased by 33.23 and12.57 percent respectively.
On month-on-month basis, the exports of sports products increased by 10.71 percent in October 2019 when compared to the exports of $ 22.449 million in September 2019, the data revealed.
During the month under review, the exports of footballs, gloves and other sports products increased by 15.44 percent, 2.33 percent and 6.24 percent respectively.
It is pertinent to mention here that the country’s merchandise trade deficit plunged by 33.52 percent during the first four 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-October (2019-20) was recorded at $7.776 billion against the deficit of $11.696 billion during July-October (2018-19), the data revealed.
The exports during the period increased from $7.270 billion during last year to $7.547 billion during the current fiscal year, showing growth of 3.81 percent.
On the other hand, the imports of the country showed decline of 19.21 percent by falling from $18.966 billion last year to $15.323 billion during the current fiscal year, the data revealed.—APP

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