In the first four months of the current fiscal year, Pakistan’s exports of footwear increased both in volume and value.
During the month of October 2019 Pakistan exported 1.0 million pairs of shoes valued at 8.1 million US dollars. This compares with exports of 713 thousand pairs valued at 8.9 million US dollars in October 2018, reflecting double-digit growth in terms of volume (+44.04%) and a decline of 9.19% in value.
Exports of leather footwear, representing 79% of the total exports of footwear, declined, both in volume and value, from the same month in 2018. Declines of 6% and 18% were registered. Exports of other footwear generated 1.7 million US dollars in October.
So far, in the accumulated for the year (July-October) 4.9 million pairs were sent abroad, resulting in exports revenue of 45.2 million US dollars. This translates an increase of 52.37% in volume and 18% in value.
In the first four months of the current financial year exports of leather footwear represented 85% of the total value of exports of footwear. Sales of abroad of this type of footwear increased by 30% in volume and by 13% in value, from similar period in 2018. Growth occurred across the other categories as well: +6% canvas footwear (value) and +59% for other footwear (value).
According to the World Footwear Yearbook (AVAILABLE HERE), in 2018, Pakistan was the 8th largest producer of footwear with 411 million pairs and a world share of 1.7%. With a population of 201 million people, Pakistan was also the 8th largest consumer of footwear. The industry is mainly focused on its internal market, exporting only 115 million US dollars of footwear (48th largest exporter in 2018).
Pakistan’s financial year runs from July to June
Image credits: Marcin Jozwiak on Unsplash