Pakistan: Sports goods' exports surge 29pc in 5MFY23
Pakistan: Sports goods' exports surge 29pc in 5MFY23 Portable Barbell
ISLAMABAD (APP) - The export of sports goods from Pakistan witnessed an increase of 29.36 per cent during the first five months of the current financial year (2022-23) as compared to the export of corresponding months of last year.
The country exported sports goods worth $174.034 million during July-November (2022-23) as compared to the export of $135.034 million during July- November (2021-22), showing growth of 29.36 percent, according to the Pakistan Bureau of Statistics (PBS).
Among the sports products, the exports of footballs rose by 60.16 percent as its surging from $63.671 million last year to $101.976 million during the current year.
The gloves exports however dropped by 2.73 percent by going down from the US $31.724 million last year to US $30.857 million during the current year, the PBS data revealed.
Likewise, the exports of all other sports goods increased by 5.56 percent to $41.843 million from US $39.639 million last year.
Meanwhile, year-on-year basis the sports goods export witnessed an increase of 18.85 percent in November 2022 as compared with the export of the same month of last year.
The sports goods exports in November 2022 were recorded at $35.458 million against exports of $29.835 million in November 2021.
During the period under review, the footballs export increase by 52.52 percent whereas the exports of gloves and all other sports product however dipped by 14.52 and 4.74 percent respectively.
Meanwhile, on month-on-month basis, the exports of sports goods decreased by 4.19 percent during November 2022, as compared to the exports of $37.007 million in October 2022, the PBS data revealed.
On month-on-month basis, the exports of footballs and gloves decreased by 7.22 and 9.04 percent respectively in addition the exports of other sports commodities increased by 8.27 percent.
It is pertinent to mention here that during the first five months of the current fiscal year, the merchandise trade deficit witnessed a decline of 30.14 percent and was recorded at $ 14,406 million this year against the deficit of $ 20,621 million last year.
According to PBS data, the exports from July-November 2022 were recorded at $11,932 million against the exports of $12,362 million in July-November (2021-22), showing a decline of 3.48 percent.
Power /Squat Rack On the other hand, the imports of the country decreased by 20.15 percent during the period under review by going down from $ 32,983 million last year to $ 26,338 million during the current year.