Saba Javed

Pakistan’s footwear exports increased by 18.69% in the first nine months (July-March) of the current fiscal year (2022-23) compared to the corresponding period of the last fiscal year (2021-22), according to Pakistan Bureau of Statistics (PBS). As per PBS data, footwear exports were recorded at $138.513 million in July-March FY23 against $116.703 million in the corresponding period of FY22. On a year-on-year (YoY) basis, footwear exports increased by 8.29% to $14.040 million in March 2023 compared to $12.965 million in the same month of 2022. On the other hand, the country's monthly footwear exports decreased by 12.88% to $14.040 million in March 2023, compared to $16.115 million in February 2023.

The footwear that contributed to trade growth included leather footwear, the exports of which increased by 18.55% to $109.987 million in the first nine months of FY23, compared to $92.775 million in the same period of the last fiscal year. On a YoY basis, leather footwear exports decreased by 8.97% in March 2023 compared to the same month last year. Exports were recorded at $8.706 million in March 2023 against $9.564 million in March 2022.

Pakistan’s leather footwear exports decreased by 29.47% on a month-on-month (MoM) basis to $8.706 million in March 2023 compared to $12.344 million the previous month. Likewise, the exports of canvas footwear increased by 3.21% from $0.733 million to $0.756 million in July-March FY23. On a MoM basis, the exports of canvas footwear increased 37.58% to $0.216 million in March 2023 from $0.157 million in February 2023. On a YoY basis, the exports of canvas footwear increased by 1268.13% to $0.216 million in March 2023 from $0.160 million in March 2022.

Other footwear products exports increased by 19.72% to $27.770 million in 9MFY23 from $23.195 million in the corresponding period of FY22. On a YoY basis, the exports of other footwear increased by 51.16% during the period under review. The other footwear exports were recorded at $5.118 million in March 2023 $3.386 million the previous month. The country's monthly footwear exports increased by 41.62% to $5.118 million in March 2023 from $3.614 million in February 2023.

Credit: Independent News Pakistan-WealthPk