ISLAMABAD         -            The footwear exports witnessed an increase of 15.86 percent during the first three quarters of current financial year (2019-20) as compared to the corresponding period of last year.

Pakistan exported footwear worth $104.351 million during July-March (2019-20) against the exports of $90.069 million during July-March (2018-19), showing a growth of 15.86 percent, according to the latest data of Pakistan Bureau of Statistics (PBS). Among the footwear products, the exports of leather footwear increased by 11.29 percent as it surged from $79.282 million last year to $88.232 million during the current year.

The canvas footwear exports of the country stood at just $ 0.344 million during the current year against $ 0.078 million during last year, showing increase of 341.03 percent. Likewise, the exports of all other footwear commodities also rose by 47.31 percent during the period under review as these went up from $10.709 million last year to $15.775 million during the current fiscal year.

Meanwhile, year-on-year basis, the footwear exports rose by 8.01 percent during the month of March 2020 compared to the same month of last year. The footwear exports during March 2020 were recorded at $10.540 million against the exports of $9.758 million in March 2019.

During the period under review, the leather footwear exports decreased by 0.91 percent while the export of canvas increased by 100 percent. In addition the exports of all other footwear commodities also increased by 52.53 percent. On month-on-month basis, the exports of footwear witness decreased of 18.62 percent during March 2020 as compared to the exports of $12.952 million in February 2020, the PBS data revealed. On month-on-month basis, the exports of leather decreased by 26.55 percent and the export of canvas and all other footwear increased by 100 and 25.22 percent respectively.

It is pertinent to mention here that the country’s trade deficit witnessed significant reduction in first three quarters of current financial year and declined by 26.45% as compared to the corresponding period of last year.

During the period under review country’s exports registered about 2.23% growth, whereas imports reduced by 14.42%.

The exports witnessed an increase of 2.23% and reached to $17.451 billion against the exports of $17.071 billion of the same period of last year.

On the other hand, the country’s imports witnessed significant decrease of 14.42% and went down from $40.679 billion last financial year to $34.814 billion of same period of current financial year.

Based on the figures, the trade deficit during the period under review was recorded at $17.363 billion against the deficit of $23.608 during last year, showing decline of 26.45 percent.