ISLAMABAD, Oct 27 (APP): The exports of sports goods from the country witnessed decrease of 11.84 percent during the first quarter (Q1) of the ongoing financial year (2020-21) against the exports of corresponding period of last year.
The country exported sports goods worth $66.681 million during July-September (2020-21) against the exports of $75.633 million during July-September (2019-20), showing negative growth of 11.84 percent, Pakistan Bureau of Statistics (PBS) reported.
During the months under review, the export of footballs decreased by 22.87 percent from $42.040 million last year to $32.426 million during current year while the exports of gloves also declined by 16.02 percent from $ 21.954 million to $17.681 million.
However, the exports of all other sports good witnessed an increase of 32.18 percent by going up from $12.539 million to $16.574 million during the period under review.
Meanwhile, on year-on-year basis, the exports of sports products during September 2020 decreased by 3.75 percent to $21.356 million when compare to the exports of $22.187 million during September 2019, the PBS data revealed.
During the period under review, the exports of footballs and gloves dipped by 20.04 and 3.08 percent respectively. However, the export of all other sports products increased by 59.75 percent.
On month-on-month basis, the exports of sports products increased by 11.51 percent in September 2020 when compared to the exports of $ 19.152 million in August 2020.
During the month under review, the exports of footballs and gloves increased by 14.12 and 5.37 percent respectively while the export other sports products of gloves decreased by 13.07 percent, the data revealed.
It is pertinent to mention here that the country’s merchandize trade deficit increased by 2.02 percent during the first quarter of current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year.
The deficit during July-September (2020-21) was recorded at $5.804 billion as compared to the deficit of $5.689 billion, showing increase 2.02 percent.
During the period under review, the country’s exports registered negative growth of 0.94 percent, by going down from $5.510 billion last year to $5.458 billion during the current year.
On the other hand, the imports decreased by 0.56 percent, from $11.199 billion last year to $11.262 billion during the current year.