In the first quarter of the current financial year, an increase has been observed in the export of Pakistan’s manufactured leather. The export grew by 10.41 percent more than the exports reported last year in the same period.
Pakistan, recently, in the new governance, has started focusing more on its export as the foreign exchange reserves were running out of dollars. So, the government imposed a restriction on imported goods and pushed the traders to increase the export of the country. This was a huge decision to take as many businesses in the country were based on the imported goods. One of the most prominent ones was the automobile industry.
As much as it has bothered some of us, it is a favor to the Pakistanis in the long-run if they wish their country to survive. Because running out of foreign exchange reserves is a nightmare for any country. For that reason, the government of Pakistan has been trying to improve its trade relations with the neighboring as well as other developed countries.
Improvement In Manufactured Leather Goods Export
So, in the course of July-September 2019, an improvement in the export of the leather goods was observed. There was an increase in the leather goods export worth around $131,407 million in comparison to the $119,018 million export in the corresponding period last year.
The data released by the Pakistan Bureau of Statistics tell that the increase in leather garment export is said to be around 11.48%. This means that about 322 TH.DOZ of leather garments worth $75,107 million have been exported during this period. While the export last year in the same period was reported to be 234 TH.DOZ valuing $67,375 million
Moreover, the export of other leather goods has also expanded. There was an export of 1,438 TH.DOZ of leather gloves in the first quarter of the current financial year which valued $53,669 million. However, the export of leather gloves last year in the same period was 1,287 TH.DOZ worth $49,142 million. So the export reported this year is almost 4,527 million more in comparison to last year.
Besides these, other goods have also undergone a positive growth of 5.20% as reported in the records in the current year. $2,631 million worth other manufacture leather goods were exported which is more than the last year in the same period that was $2,501 million.
Apart from leather, 115,o00 metric tonnes of mangoes were exported!
The country had also exported 115,000 metric tonnes of mangoes this year which was a record export volume in the past five years. And still anticipates more. The export was also backed by the high standard and competitive marketing. This achievement was scored despite the financial crisis that the country was undergoing.
If the export of Pakistan keeps improving at this rate every year it will soon be out of the red zone. However, there’s still a lot that needs to be done in the area.
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