Leather goods exports surge 6.42% in 1st half of current FY

Leather goods exports surge 6.42% in 1st half of current FY

F.P. Report

ISLAMABAD: The exports of leather goods witnessed an increase of 6.42 percent during the first half of ongoing financial year (2020-21) as compared to the exports of corresponding period of last year.

Pakistan exported leather worth US $292.280 million during July-December (2020-21) against the exports of $274.657 million during July-December (2019-20), showing growth of 6.42 percent, according to the Pakistan Bureau of Statistics (PBS).

Among the leather products, the exports of leather garments increased by 1.49 percent, from $150.638 million last year to $152.889 million during the current year.

The leather gloves exports also rose by 10.34 percent by going up from $118.378 million to $130.622 million.

Likewise, the exports of all other leather commodities also increased by 55.45 percent during the period under review as these went up from $5.641 million last year to $8.769 million during the current fiscal year.

Meanwhile, year-on-year basis, the leather exports also witnessed increase of 10.05 percent during the month of December 2020 compared to the same month of last year.

The leather exports during December 2020 were recorded at $52.180 million against the exports of $47.413 million in December 2019.

During the period under review, the leather garments and leather gloves exports also rose by 8.13 and 9.20 percent respectively. In addition, the exports of all other leather goods increased by 94.41 percent.

On month-on-month basis, the exports of leather products increased by 5.94 percent during December 2020 as compared to the exports of $49.253 million in November 2020, the PBS data revealed.

On month-on-month basis, the exports of leather garments and leather gloves increased by 4.81 and 8.94 percent respectively while the export of all other leather goods declined by 14.38 percent.

It is pertinent to mention here that the country’s trade deficit witnessed an increase of 5.93 percent during the first six months of financial year 2020-21, as compared to the corresponding period of last year.

The exports witnessed increase of 5.09% and reached to $12.110 billion against the exports of $11.524 billion of the same period of last year.

On the other hand, the country’s imports also rose by 5.51% and went up from $23.195 billion last fiscal year to $24.473 billion of same period of fiscal year 2020-21.

Based on the figures, the trade deficit during the period under review was recorded at $12.363 billion against the deficit of $11.671 billion during last year, showing increase of 5.93 percent.

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