ISLAMABAD, Aug 24 (APP):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 corresponding month of last year.
The country exported sports goods worth US $ 26.169 million during July 2020 against the trade of US $ 24.585 million during July 2019, showing 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 US $ 7.075 million in last July to US $ 7.118 million in July 2020, a 0.61 percent decrease.
However, the sports of footballs decreased by 9.12 percent in July by going down from US $ 13.797 million in July 2019 to US $ 12.539 million in July 2020, the data revealed.
The exports of all other sports goods grew by 75.38 percent, from US $ 3.713 million last July to US $ 6.512 million in July 2020, according t PBS data .
Meanwhile, on month-on-month basis, the exports of increased by 41.33 percent In July when compared to the exports of US $ 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 sport 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 reduction of 10.24 percent during the first month of current fiscal year (2020-21) as compared to the deficit of the corresponding month of last year.
The country’s deficit during July 2020 stood at US $ 1.640 billion against the deficit of US $ 1.827 billion during July 2019, according to PBS data.
During the month under review, the country’s exports registered about 6.04 per cent increase, by going up from US $ 1.886 billion last year to US $ 2 billion during the current year whereas the imports declined from US $ 3.713 billion to US $ 3.640 billion, showing decline of 1.97 per cent.
Meanwhile, on month-on-month basis, the exports from the country increased by 25.08 percent in July 2020 when compared to the exports of US $ 1.599 billion in June 2020.
Likewise, the imports of the country declined by 2.12 per cent in July 2020 as compared to the imports of US $ 3.719 billion in June.