US$307.943 million earned by export of sports goods in one year

Pakistan earned $307.943 million by exporting sports goods during the fiscal year 2016-17, official sources said. The earnings from export of sports products dropped 5.17 percent during the period when compared to the exports of $324.738 million during the fiscal year 2015-16, official data revealed.

Among the sports products, the exports of footballs decreased 11.7 percent during the period under review. The football exports during July-June (2016-17) were recorded at $152.549 million compared to the exports of $172.901 million during July-June (2015- 16), according to data of Pakistan Bureau of Statistics (PBS). However, the exports of gloves surged by 16.02 percent by going up from $92.750 million to $107.608 million, the data revealed.

Exports of other sports products decreased by 19.13 percent during FY2017 and declined to $47.786 million from $59.087 million in FY2016. Meanwhile, on an year- on-year basis, the exports of sports goods decreased by 1.19 percent in June 2017 when compared to the exports of June 2016.

The sports goods’ exports in June 2017 were recorded at $27.176 million compared to the exports of $28.515 million according to the data. During the month, the football exports decreased by 2.78 percent while the exports of gloves increased by 4.8 percent while the exports of all other sports products decreased by 6.81 percent. On month-on-month basis, the exports of sports products increased by 21.69 percent in June 2017 when compared to the exports of $23.153 million in May 2017.

On month on month basis, the exports of footballs increased by 19.31 percent, gloves by 14.54 percent whereas the exports of other sports goods increased by 47.93 percent.

It is pertinent to mention here that the overall merchandise exports in July 2017 witnessed 10.58 percent increase compared to the corresponding month of last year.

Pakistan exported goods worth $1.631 billion in July 2017 compared to the exports of $1.475 billion in July 2016, showing upward growth of 10.58 percent.

The imports during the first month of the current fiscal year (July 2017) increased by 36.74 percent compared to July 2016.

The imports into the country during July 2017 were recorded at $4.835 billion compared to the imports of $3.536 billion.

Based on the figures, the traded deficit during July 2017 was recorded at $3.204 billion, which shows growth of 55.46 percent when compared to the deficit of $2.061 billion during July 2016.