The manufactured leather exports of Pakistan for the first quarter of 2019 has grown by a decent percentage of 10.41 as compared to the percentage of exports of the previous year.
The Improvement In Exports For Leather:
It appears that from the period of July 2019 to September 2019, leather products of $131,407 million have been exported. All the while, for the previous year during the same period, the exports were $119,018. Further reports and statistics given by the Pakistan Bureau of Statistics have mentioned that the export related to leather garments has seen an increase of 11.48%. Apparently, it seems that leather garments that are worth $75,107 were exported while the number was $67,375 for the previous year.
Adding more to the statistics, it appears that other goods valuing $2,631 million have been exported as compared to $2,501 million of exports of the previous year. Furthermore, the increase in exports for leather gloves has also been impressive and worth noting. The 1,438 TH.DOZ of leather gloves valued at $53,669 million were exported for the financial year of 2019. While the exports were 1,287 TH.DOZ of leather gloves worth $49,142 million within the same period of the previous year.
This isn’t only a simple increase as it shows that a boost in exports could potentially affect the Pakistani economy. The Pakistani government has put itself to work for striving for a change. It has been utilizing loans from different sources and countries. Moreover, Pak-China relations have been better than ever under the rule of Prime Minister Imran Khan. This is necessary because China diligently provides Pakistan assistance for the development of key areas. And it invests in the country which ensures that the economic growth stays stable. The government has been retaining their focus on the areas that are in dire need of help. All of this includes agricultural improvement, poverty reduction, trade increase, and obviously greater exports.
How Eid-Ul-Adha Affected Leather Exports:
However, during Eid-ul-Adha of this year fewer animals were sacrificed which seriously affected Pakistan’s leather exports. The Pakistan Tanners Association mentioned that the exports had been terrible because 10% less animals were sacrificed this year as compared to last year. Considering that there were fewer hides to pass off to the tanneries, the exports saw a decrease. The main reason for it was considered to be the expensive prices for animals and the lack of demand for leather abroad. However, luckily enough, the leather industry, in terms of manufactured leather, seems to be seeing a considerable improvement.
What do you think of the situation? Do you think that Pakistan’s exports will keep increasing, making sure the economy stays stable and healthy? Share your thoughts using the links below.
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