Exports of shoe products witnessed a sharp increase of 27.07% during the first quarter of the current fiscal year 2022-23, as compared to the same period of last fiscal year 2021-22.

Exports in the first quarter of the current fiscal year, i.e. July-September stood at USD 48.972 million,  while in the same quarter of last fiscal year, they were around USD 38.540 million, showing a growth of 27.07%, according to the data released by the Pakistan Bureau of Statistics (PBS).

Exports of footwear also increased in real terms, i.e. in terms of their numbers. During the first quarter of last fiscal year, 4,052 thousand pairs were exported, while during the same period this fiscal year, the number increased to 6,842 thousand.

Leather footwear exports increased by 28.68% from USD 32.185 million last year to USD 41.417 million during the first quarter of this fiscal year. Canvas footwear exports also saw an increase from USD 0.023 million during the first quarter of last fiscal year to USD 0.250 million in the same quarter of this fiscal year, registering a staggering increase of 987.33%, according to the data.

Similarly, the exports of all other footwear goods increased by 15.37% during the quarter under review from USD 6.332 million last year to USD 7.305 million during the current fiscal year.

On a year-on-year basis, the exports of footwear products increased by 41.12% during the month of September 2022 as compared to the same month of last year. In this September, the exports of footwear products stood at USD 15.580 million as against USD 11.749 million in the same month of last year. In the same month of September of this year, the leather and canvas footwear exports increased by 43.70% and 475% over the same month last year.

On a month-on-month basis, the exports of footwear commodities also surged by 6.53% during September 2022 as compared to USD 15.564 million in the month of August 2022, the PBS data showed. However, the exports of leather footwear products decreased by 1.70% on a month-on-month basis while canvas and other footwear exports increased by 100 percent and 161.10 percent respectively.

Credit : Independent News Pakistan-WealthPk