Sports goods’ exports drop 5.9pc to $52.6m

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ISLAMABAD: The export of sports goods from the country witnessed a decline of 5.93pc during the first two months of the current financial year (July-August FY2019-20) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

The country exported sports goods worth $52.603 million during July-August 2019-20, as against the trade of $55.919 million during July-August 2018-19.

A significant fall of 35.55pc was witnessed in the export of gloves (from $23.151 million last year to $14.921 million in the period under review).

However, the export of footballs increased by 14.94pc in the first two months of FY20 (from $25.040 million last year to $28.781 million), while the exports of all other sports products went up from $7.728 million to $8.901 million, witnessing an upward growth of 15.18pc.

Meanwhile, on a year-on-year basis, the export of sports products increased by 8.16pc to $27.878 million in August 2019, when compared with the export of $25.775 million in August 2018.

During the month under review, the export of gloves decreased by 2.53pc, whereas that of footballs and other sports products increased by 11.26pc and 18.83pc respectively.

On a month-on-month basis, the export of sports products increased by 12.75pc in August 2019, when compared with the exports of $24.725 million in July 2019.

During the month under review, the export of footballs, gloves and other sports products went up by 8.63pc, 12.55pc and 27.65pc respectively.

It is pertinent to mention that the trade deficit during the first the two months of the current fiscal year dipped by 35.86pc as compared to the corresponding period of last year.

The trade deficit during July-August 2019-20 was recorded at $3.924 billion as against the deficit of $6.118 million in July-August 2018-19.

During the period under review, the exports from the country increased by 2.79pc, from $3.651 million last year to $3.753 million.

On the other hand, the imports witnessed a negative growth of 21.41pc, from $9.769 million last year to $7.677 million.

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