The export of sports items from the country increased by 29.36% in the first five months of the current fiscal year (2022-23) against the comparable months of last year. According to the Pakistan Bureau of Statistics (PBS), the country exported sports items worth $174.034 million from July to November (2022-23) as opposed to $135.034 million from July to November (2021-22), indicating a rise of 29.36%.

Football exports increased by 60.16% this year, going from $63.671 million to $101.976 million, the highest increase among sports goods. However, the exports of gloves decreased by 2.73%, from $31.724 million last year to $30.857 million this year.The exports of all other sporting items also grew, rising by 5.56% to $41.843 million from $39.639 million in the previous year. In contrast, the export of sports items increased 18.85% on an annual basis in November 2022 compared to the export in the same month of the previous year.

Compared to November 2021, when exports were $29.835 million, November 2022 saw sports goods exports of $35.458 million. The export of footballs increased by 52.52% during the period under consideration, whereas the exports of gloves and all other sports goods decreased by 14.52% and 4.74%, respectively.

In contrast, compared to the exports of $37.007 million in October 2022, sports products exports fell by 4.19% on a monthly basis during November 2022. The exports of gloves and footballs declined by 7.22% and 9.04%, respectively, month over month, while the exports of other sporting goods climbed by 8.27%.

It is important to note that the merchandise trade deficit decreased by 30.14% over the first five months of the current fiscal year, falling from $20,621 million last year to $14,406 million this year. The exports from July to November 2022 were reported at $11,932 million, compared to $12,362 million from July to November 2021-22, suggesting a fall of 3.48%, according to PBS statistics. On the other hand, the country’s imports fell by 20.15% throughout the study period, from $32,983 million in the previous year to $26,338 million this year.

Credit : Independent News Pakistan-WealthPk