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Value of Pakistan’s footwear exports continues to fall

Nov 23, 2023 Pakistan
Value of Pakistan’s footwear exports continues to fall
From July to October, footwear exports declined by about 15% in value, as compared to the same period of last year, mainly driven by the performance of the leather footwear segment
According to the Pakistan Bureau of Statistics (PBS), in the first four months of the current fiscal year, the country exported 7.77 million pairs of shoes, generating 53.11 million US dollars. These figures reflect a 15.07% decline in value and a 7.13% growth in volume, on a comparable basis to the same period of last year.

From July to October, Pakistan also shipped 2.93 million pairs of leather shoes, worth 42.54 million US dollars, which reflects a fall of 14.61% in volume and 16.98% in value, as compared to the first four months of the previous fiscal year. This segment accounted for about 82% of the total value exported in this period.

The other footwear segment was responsible in this period for exporting 4.77 million pairs of shoes for 9.36 million US dollars, up by 26.26% and value and down by 14.93% in value over a similar period of fiscal 2022-2023. On the other hand, the canvas footwear segment recorded an increase in both volume and value in these four months of 57.62% and 316.13% year-over-year, respectively.

Leather

In the first four months of the current financial year, leather footwear manufacturers’ exports amounted to 195.29 million US dollars, which indicates an 8.2% decrease over the same time of last fiscal year. The data also shows that in these months, finished leather exports dropped by 25.01% year-over-year in value to 44.91 million US dollars.

Pakistani Footwear Industry

Although mainly geared to the domestic market, last year Pakistan was the world’s seventh-largest footwear producer. The World Footwear 2023 Yearbook (more information available HERE) also shows that it ranks as the 46th exporter worldwide, but statistics reveal a contradictory trend for 2022, with a decline in volume but an increase in value.


Image Credits: Aryan Ghauri on Unsplash

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