Saba Javed

Exports of sports goods increased by 17.78% in the first nine months of the current Fiscal Year 2022-23 compared with exports in the corresponding period of the Fiscal Year 2021-22, reports WealthPK. As per the data issued by the Pakistan Bureau of Statistics (PBS), exports were recorded at $306.111 million in July-March 2022-23 as against exports of $259.904 million in the corresponding period of last financial year, showing an increase of 17.78%.    

Talking to WealthPK, Mohsin Masood, Secretary General of the Pakistan Sports Goods Manufacturers and Exporters Association (PSGMEA), said sports goods industry was one of the major foreign exchange earners for Pakistan. ‘’Goods produced are provided to both local and global brands; more than 75 percent of the total production is exported every year. These products are manufactured according to the requirements of the foreign targeted markets.’’

He said exports increased during the COVID-19 pandemic, as people had to stay at home so the demand for indoor physical activities increased, resulting in a surge in exports. During the pandemic, Amazon shares increased by 25%, as online shopping and business flourished. Owing to this factor, we have witnessed a shift of demand of these products to online portals (e-commerce). The global e-commerce trade of sports goods is worth almost $77 billion. Sialkot city in Pakistan accounts for $3 billion of this trade, which is equivalent to 27.3% of the total. There are almost 16,000 sports goods production units in Sialkot which are predominantly small and of medium size.

The sports goods in Pakistan are made with the finest raw materials such as leather, wood, glue, nylon guts, rubber, and different types of chemicals. They are not only of good quality but are also extremely durable. Pakistan exports sports goods to around 90 different countries. Some of the most popular international brands include Nike, Adidas, Puma, Umbro, Lotto, Wilson, Miter, Micassa, Diadora, and Decathlon. On a year-on-year basis, exports increased by 14.12% to $35.953 million in March 2023 compared with $31.504 million in March 2022. On the other hand, the monthly exports increased by 26.81% to $35.953 million in March 2023 compared with $28.352 million in February 2023.

The sports goods that contributed to trade growth included footballs whose export increased by 33.67% to $177.694 million in the first nine months of the Fiscal Year 2022-23 compared to $132.935 million during the same period of the last Fiscal Year 2021-22. On a year-on-year basis, football exports increased by 21.07% in March 2023 compared to the same month last year. Exports in March 2023 were recorded at $22.294 million as against exports of $18.414 million in March 2022.

Football exports increased by 36.24% month-on-month to $22.294 million in March 2023 compared with $16.364 million in February 2023. Likewise, exports of gloves decreased by 7.53% from $56.702 million to $52.432 million in the first nine months of the current Fiscal Year 2022-23. However, exports of other sports goods products increased by 8.14% to $75.984 million in 9MFY23 from $70.267 million in the same period of the last Fiscal Year 2021-22.

On a month-on-month basis, exports of gloves witnessed an increase of 25.90% to $4.997 million in March 2023 compared to the exports of $3.969 million in February 2023. On a year-on-year basis, gloves exports decreased by 17.91% to $4.997 million in March 2023 compared with exports of $6.087 million in March 2022. The PSGMEA secretary general said the Ministry of Commerce was setting up Exports Development Fund (EDF) for infrastructural development of Sialkot city. A sports industrial park established under the Fund will act as an incubation centre which will increase productivity and as well as exports of sports goods.

Credit: Independent News Pakistan-WealthPk