Sports goods’ exports decline by 5.85 pc in July

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ISLAMABAD, Aug 27 (APP):The exports of sports goods from the country witnessed decrease of 5.85 percent during the first month of the current fiscal year against the exports of same month of last year, Pakistan Bureau of Statistics (PBS) reported.
The country exported sports goods worth $21.898 during 2018) against the trade of $23.258 million during July 2017), showing negative growth of 5.85 percent, the PBS data revealed.
The major contributor for negative growth in sports’ goods was trade of gloves, which declined by 20.34 percent. The country exported gloves of $6.699 million during July 2018 against the exports of $8.410 million in July 2017, according to PBS data.
However, the export s of footballs during the month under review increased by 5.59 percent by growing from exports of $11.005 million during July 2017 to $11.620 in July 2018.
The exports of all other sports products decreased by 6.87 percent as it was recorded at $3.579 million in July 2018 compared to the exports of $3.843 million in July 2017.
Meanwhile, on month-on-month basis, the exports of sports products witnessed negative growth of 25.20 percent in July 2018 when compared to the exports of $29.275 million in June 2018.
Similarly, the exports of footballs witnessed negative growth of 16.36 percent in July 2018 when compared to the export of $13.893 million in June 2018 while the exports of gloves decreased by 34.01 percent during the month under review compared to the exports of $10.151 million in June 2018.
It is pertinent to mention here that the overall merchandise exports from the country witnessed an increase of 1.17 percent during the first month of current fiscal year against the same month of last year.
The exports from the country during July 2018 stood at $1.646 billion against the exports of $1.627 billion in July 2017, showing growth of 1.17 percent.
The imports into the country during the month under review witnessed increase of 0.6 percent by growing from $4.809 billion last July year to $4.838 billion.
Based on the figures, the trade deficit during the first month of the current year increased by 0.31 percent by growing from the deficit of $3.182 billion last July to the deficit of $3.192 billion during the July 2018.
Meanwhile, on month-on-month basis, the exports from the country decreased by 12.77 percent during month of July when compared to the exports of $1.887 billion in June 2018.
Similarly, the imports into the country decreased by 15.03 percent in June 2018 when compared to the imports of $5.694 billion in April 2018.