Sports goods’ exports dip 9.68 per cent in FY19
ISLAMABAD: The exports of sports goods from the country witnessed decrease of 9.68 percent during the fiscal year 2018-19 as against the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) reported.
The country exported sports goods worth $308.746 million during July-June (2018-19) against the trade of $341.820 million during July-June (2016-17), showing negative growth of 9.68 percent, the PBS data revealed.
Among the sports products, the exports of footballs decreased by 3.75 percent by going down from $166.881 million last year to $160.625 million during the fiscal year under review.
The exports of gloves decreased from $120.913 million to $96.833 million, showing decline of 19.92 percent while the exports of all other sports products went down from $54.026 million to $51.288 million, witnessing decrease of 5.07 percent.
Meanwhile, on year-on-year basis, the exports of sports products during June 2019 decreased by 19.87 percent to $23.517 million when compare to the exports of $29.347 million during June 2017.
On year-on-year basis, the exports of footballs decreased by 8.85 percent while the exports of gloves and other sports products increased by 36.49 percent and 16.68 percent respectively.
On month-on-month basis, the exports of sports products decreased by 4.89 percent in June 2019 when compared to the exports of $ 29.673 million in May 2019, the data revealed.
During the month under review, the exports of footballs decreased by 22.77 percent while the exports of gloves and other sports products went up by 17.47 percent and 19.37 percent respectively.
It is pertinent to mention here that the country’s merchandize trade deficit plunged by 15.33 per cent during the fiscal year 2018-19 compared to the corresponding period of last year.
The trade deficit contracted to $31.820 billion during July-June (2018-19) against the deficit of $37.583 billion recorded during July-June (2017-18).
The exports during the period under review witnessed decrease of one per cent by falling from $23.212 billion during last year to $22.979 billion during the ongoing fiscal year.
On the other hand, the imports declined by 9.86 per cent to $54.799 billion during the period under review from $60.795 billion last year, the data revealed.
On year-on-year basis, the merchandize exports declined by 8.77 per cent, from $1.882 billion in June 2018 to $1.717 billion in June 2019 while the imports declined by 22.80 per cent from $5.652 billion in June 2018 to $4.364 billion in June 2019, the data revealed.