Pakistan’s sports goods exports increased by 26.09% and yielded $63.74 million during the first two months of the current fiscal year (2022-23), the Ministry of Commerce reported.
Sports goods exports rose to $63.74 million during July-August from $50.55 million in the same months of the last fiscal year (2021-22), the ministry’s data showed.
With a substantial increase of 56.55%, football export rose to $35.96 million during the period under review against $22.97 million during the corresponding month of the preceding year.
Exports’ volume of football in July-August accounted for 56.41% of the total sports goods exports during the said months.
In terms of quantity, exports of football rose to 679,000 dozen during the first two months of 2022-23 against 444,000 dozen in the same period of last fiscal, with an increase of 52.92%.
The exports of gloves declined by 4.52% and dropped to $11.524 million during the period under review from $12.069 million during the corresponding period of the preceding year, the data revealed.
In terms of quantity, the export of gloves also fell by 8.85% and declined to 515,000 dozen in July-August from 565,000 dozen in the same months of 2021-22.
The country’s exports of sports goods other than football and gloves recorded $16.261 million during the period under review as compared to $15.515 million during July-August last year, posting a growth of 4.81%.
Pakistan’s sports goods manufacturers have demanded the government provide a comprehensive incentives package to enhance the production and exports of sports goods.
Talking to WealthPK, Secretary General, Pakistan Sports Good Manufacturers and Exporters Association, Mohsin Masood said that the Pakistani sports goods industry had the potential of increasing production and enhancing exports by up to $500 million by the next fiscal year.
He was of the view that if an incentives package was given by the government, it could bring massive investment in the sports goods manufacturing sector.
The government, he said, should reduce the excise duty on the import of raw materials used for manufacturing sports goods. “Raw materials such as rubber, leather, aluminium, cork, carbon-fiber, polymers and polyester should be fully or partially exempted from import duty.”
He also demanded the government find out new markets for Pakistan’s sports goods through diplomatic channels. “The government should activate its trade missions in various regions to find out new markets.”
Masood urged the manufacturers to adopt modern production techniques to meet all the export standards set by various countries. He said that the sports goods industry in Sialkot was producing world-class products.
Pakistan’s total sports goods exports were recorded at $3.648 billion during the last fiscal year 2021-22, against $2.784 billion in the preceding year, growing by 31.03%.
According to the Trade Development Authority of Pakistan (TDAP), the United States of America, Spain, Germany, the United Kingdom, Japan, France and the Netherlands were the top export destinations for Pakistani sports goods.
Soccer balls, volleyballs, rugby balls, basketballs, cricket balls, shuttlecocks, gloves, hockey sticks, sportswear and boxing equipment were the major products of Pakistan’s sports goods industry, it added.
Credit : Independent News Pakistan-WealthPk