Sports good’s exports decrease by 14.97pc during FY 2019-20

ISLAMABAD: The exports of sports goods from the country witnessed a decrease of 14.97 percent during fiscal year (2019-20) as against the exports of corresponding period of last year.

The country exported sports goods worth $ 262.370 million during July-June (2019-20) against the trade of $ 308.552 million during July- June (2018-19), showing negative growth of 14.97 percent, Pakistan Bureau of Statistics (PBS) reported.

During the period under review, the export of footballs decreased by 10.18 percent from $160.580 million last year to $144.235 million during fiscal year under review while the exports of gloves declined by 26.47 percent from $ 96.560 million to $ 71.000 million.

In addition, the exports of all other sports good went down from $51.412 million to $ 47.135 million during the period under review, showing decrease of 8.32 percent.

Meanwhile, on year-on-year basis, the exports of sports products during June 2020 decreased by 20.30 percent to $ 18.516 million when compare to the exports of $23.232 million during June 2019, the PBS data revealed.

During the period under review, the exports of footballs and gloves dipped by 12.60 and 42.74 percent respectively while the export of all other sports products also decreased by 11.60 percent.

On month-on-month basis, the exports of sports products however witnessed increased of 34.24 percent in June 2020, when compared to the exports of $ 13.793 million in May 2020.

During the month under review, the exports of footballs and other goods increased by 91.19 and 24.33 percent respectively while the export of gloves decreased by 27.68 percent, the data revealed.

It is pertinent to mention here that the country’s trade deficit witnessed significant reduction during the fiscal year 2019-20 and declined by 27.12pc as compared to the corresponding period of last year.

The exports witnessed decrease of 6.81pc and reached to $21.394 billion against the exports of $22.958 billion of the same period of last year.

On the other hand, the country’s imports witnessed significant decrease of 18.61pc and went down from $54.763 billion last fiscal year to $44.574 billion of same period of fiscal year 2019-20.

Based on the figures, the trade deficit during the period under review was recorded at $23.180 billion against the deficit of $31.805 during last year, showing decline of 27.12 percent.