ISLAMABAD, Sep 26 (APP): The export of footwear products witnessed an increase of 7.74 percent during the Month of August 2023 as compare to the same month of last fiscal year, Pakistan Bureau of Statistics (PBS) reported.
Pakistan exported footwear products worth $16.770 million during August 2023 as compared to the exports of $15.565 million during August 2022.
Among footwear varieties, the exports of leather footwear increased by 2.12 percent to $13.961 million in August compared to exports of $13.672 million in August 2022 whereas the exports of canvas footwear increased from zero to $0.290 million, showing cent percent growth.
The exports of all other footwear varieties increased from $1.893 last August to $2.519 million in August 2023, showing growth of 33.07 percent.
However, the exports of the commodity during first two months of the current fiscal year witnessed a decrease of 12.75 percent when compared to the corresponding period of last year, PBS reported.
The footwear exports during July-August (2023-24) were recorded at $28.261 million against the exports of $32.392 million in July-August (2022-23).
During the period under review the exports of leather footwear declined by 15.89 percent, from $27.976 million to $23.531 million this year. However, the exports of canvas footwear increased from $0.158 million to $0.165 million, a growth of 264 percent.
The export of other footwear commodities declined by 2.44 percent to $4.154 million from to $4.258 million last year.
It is pertinent to mention here that the country’s overall trade deficit contracted by 40.29 per cent during the first two months of the current fiscal year compared to the corresponding period of last year.
The trade deficit during July–August (2023–24) was recorded at $3.763 billion as against the deficit of $6.302 billion in July–August (2022–23), showing negative growth of 40.29 per cent.
During the period under review, the exports declined by 6.38 per cent to $4.431 billion compared to the exports of $4.733 billion during the corresponding period of last year.
On the other hand, imports narrowed by 25.75 per cent and were recorded at $8.194 billion compared to $11.035 billion last year, according to PBS data.