According to the Pakistan Bureau of Statistics (PBS), country’s leather exports fell by 18.99 percent in the first month of fiscal year 2022-23 (1MFY23) in comparison to the same month in fiscal year 2021-22.
The leather exports were recorded at $50.319 million in 1MFY23 against exports of $62.133 million in 1MFY22, PBS.
The country’s monthly leather exports decreased by 7.26 percent to $50.319 million in July 2022 compared to $54.256 million in June 2022.
Exports of leather garments also decreased by 22.85 percent to $26.390 million in 1MFY23 compared to $34.206 million in the same month of FY22.
Month-on-month, leather garments exports decreased by 8.01 percent in July 2022 to $26,390 million compared to $28.689 million in June 2022.
Likewise, exports of leather gloves decreased by 14.51 percent to $22.457 million in July 2022 from $26.269 million in July 2021. Other leather products exports also decreased by 10.13 percent from $1.638 million in July 2021 to $1.472 million in July 2022.
Month-on-month, exports of leather gloves witnessed a decrease of 7.15 percent to $22.457 million in July 2022 compared to exports of $24.187 million in June 2022.
The country’s total footwear exports increased by 28.03 percent to $16.829 million during 1MFY23 compared with $13.145 million in 1MFY22.
Read more: Export-oriented sectors ready to step out of energy crisis
Month-on-month, exports of footwear witnessed an increase of 11.99 percent to $16.829 million in July 2022 compared to exports of $15.027 million in June 2022.
Overall textile exports climbed 0.67 percent to $1.481 billion in 1MFY23, up from $1.471 billion in 1MFY22.
However, textile exports fell by 13.21 percent month-on-month to $1.481 million in July 2022, from $1.706 million in June 2022.
Pakistan is considered to be the hub of producing high quality Leather and Leather Products. There are about 800 Tanneries in the country actively engaged in producing best quality finished leather of Cow, Buffalo, Sheep &Â Goat skins and employing thousands of workers.
It is the second largest export industry after textiles, contributing around 5.4 percent to exports in 2020.
In the face of shifting global circumstances, Asian economies such as China and India are experiencing remarkable growth. Pakistan too has a lot of room for expansion but political uncertainty, socioeconomic issues, and a lack of modern technologies impede economic growth.