By Raza Khan ISLAMABAD, Feb. 24 (INP-WealthPK): With improvement in business environment and adoption of modern technology, Pakistan can earn up to $500 million per annum through exports of sports goods. “Pakistan’s current exports of sports goods are far below its real potential,” said Mohsin Masood, secretary general of Pakistan Sports Goods Manufacturers and Exporters Association (PSGMEA). He pointed out that the country’s sports goods exports were worth $277 million in 2020-21 compared with $262.37 million in 2019-20. Talking to WealthPK, he said that PSGMEA has 500 active production units under its umbrella in Sialkot district of the Punjab province. “An increase in exports of sports goods during the first half of the current fiscal year (July-December) is a positive sign for the industry. However, the industry still needs diversification to improve the products and further enhance exports.” “Exports of footballs contributed 48% to the total exports during the period,” said the PGSMEA secretary general. He added that exporters should also focus on other products to take maximum benefits. Masood said footballs, volleyballs, rugby balls, basketballs, cricket balls, shuttlecocks, gloves, hockey sticks, sportswear and boxing equipment are the major products of Pakistan’s sports goods industry. He said that the government should reduce import duty on machines and raw material and provide electricity and gas to the industry at fair price. “The government should also activate its trade missions in various countries to find out new markets for Pakistan’s sports goods,” he suggested. The PSGMEA secretary general also urged industrialists to adopt modern techniques of production to meet the export standards set by various countries. He said Pakistan’s sports goods exports have started showing growth as countries eased Covid-19-induced lockdowns over the last two years. However, he stressed that much needs to be done to exploit Pakistan’s real export potential in this sector. Meanwhile, according to the ministry of commerce, Pakistan’s exports of sports goods increased by 26.20% during the first six months (July-December) of the current fiscal year 2021-22 against the same period of the last fiscal year. The volume of exports rose to $163.98 million during the last six months from $129.94 million during the corresponding period of 2020-21. Exports of footballs increased by 22.15% during the period under review, reaching $78.84 million against $64.55 million during the same months of last year. Pakistan’s total football exports stood at $131.65 million in the fiscal year 2020-21. Exports of gloves rose by 12.40 % to $37.54 million in July-December period of the current fiscal from $33.40 million in the corresponding period of last year. Likewise, exports of all other sports goods increased by 48.77%. The volume of other sports goods exports rose to $47.60 million from $31.99 million during the period under review. Pakistan’s total sports goods exports recorded $277.69 million in fiscal year 2020-21 with 5.84% growth over the corresponding year of 2019-20 when exports were worth $262.37 million. According to the Trade Development Authority of Pakistan, the United States of America, Spain, Germany, UK, Japan, France and Netherlands are the top export destinations of Pakistani sports goods.