Sports goods exports increase 6.44% to over $26 million in July

ISLAMABAD: The exports of sports goods witnessed an increase of 6.44 percent during the first month of the current fiscal year 2020-21 as against the exports of the corresponding month last year.

The country exported sports goods worth $26.169 million during July 2020 against the trade of $24.585 million during July 2019, showing an increase of 6.44 percent, Pakistan Bureau of Statistics (PBS) reported.

The products that contributed in positive growth in trade included gloves, the exports of which increased from $7.075 million in last July to $7.118 million in July 2020, a 0.61 percent decrease.

The export of footballs decreased by 9.12 percent in July by going down from $13.797 million in July 2019 to $12.539 million in July 2020, the data revealed. The exports of all other sports goods grew by 75.38 percent, from $3.713 million last July to $6.512 million in July 2020.

Meanwhile, on month-on-month basis, the exports increased by 41.33 percent in July when compared to the exports of $18.516 million in June 2020.

During the month under review, the exports of footballs and gloves increased by 13.26 and 106.26 percent respectively while the export of all other sports products also increased by 64.44 percent, the data revealed.

It is pertinent to mention here that, as the exports increased by 6.04 percent, the country’s trade deficit witnessed a reduction of 10.24 percent during the first month of current fiscal year as compared to the deficit of the corresponding month of last year.

The country’s deficit during July 2020 stood at $1.640 billion against the deficit of $1.827 billion during July 2019.

During the month under review, the country’s exports registered about 6.04 percent increase, by going up from $1.886 billion last year to $2 billion during the current year whereas the imports declined from $3.713 billion to $3.640 billion, showing a decline of 1.97 percent.

The exports increased by 25.08 percent in July 2020 when compared to the exports of $1.599 billion in June 2020. Imports declined by 2.12 percent in July 2020 as compared to the imports of $3.719 billion in June.