INP-WealthPk

Leather Products Exports Jump 9.98% During July-April FY22

May 30, 2022

By Irfan Ahmed ISLAMABAD, May 30 (INP-WealthPK): Pakistan’s exports of leather products jumped by 9.98% during the first 10 months of the current fiscal year (2021-22) as compared to the corresponding period of last year. According to the Pakistan Bureau of Statistics (PBS) data, leather exports were recorded at $515.449 million in July-April (2021-22) against the exports of $468.678 million in the corresponding period of last fiscal year, showing a growth of 9.98%. On year-on-year (YoY) basis, leather products exports increased by 25.85% and remained at $51.542 million in April 2022 compared to $40.955 million in April 2021. The country's monthly leather products exports surged by 24.11% to $51.542 million in April 2022, compared to $41.528 million in March 2022. The products that contributed to trade growth included leather garments, the export of which increased by 9.62% to $262.106 million in the first 10 months of the fiscal year 2021-22, compared to $239.115 million during the same period of the last fiscal year. On YoY basis, leather garments exports increased by 28.32% during April 2022 as compared to the same month of last year. Exports during April 2022 were recorded $25.051 million against the exports of $19.523 million during April 2021. Pakistan’s leather garments exports increased by 35.37% month-on-month (MoM) to $25.051 million in April 2022, as compared to $18.505 million in March 2022. Likewise, the exports of leather gloves increased by 9.96% from $215.964 million to $237.482 million in the first 10 months of the current fiscal year, and other leather products’ exports increased by 16.63% from $13.599 million to $15.860 million during the period under review. On MoM basis, the exports of leather gloves from the country witnessed an increase by 13.02% to $24.495 million in April 2022 as compared to the exports of $20.094 million in March 2022. The exports of leather gloves increased by 21.90% to $24.495 million in April 2022 as compared to the exports of $20.094 million in April 2021. The country’s total footwear exports increased by 21.16% to $130.092 million in the first 10 months of the current fiscal year as compared to $107.369 million in the last year's corresponding period. The country’s overall textile exports increased by 25.96% during July-April 2021-22 as compared to last year's corresponding period, reported WealthPK. Textile exports were recorded $15.981 billion in July-April (2021-22) against the exports of $12.688 billion in July-April (2020-21), showing growth of 25.96%. The top export destinations of leather products are Germany, Italy, the United States, the Netherlands, and the United Kingdom. Pakistan’s leather and leather goods industry has shown promising performance for the economy. It is one of the three most important export sectors, generating 4% of export revenues and providing jobs for thousands of people.