Trade

Pakistani footwear exports end the year in the red

Aug 22, 2024 Pakistan

In the twelve months to June 2024, Pakistan’s footwear exports fell by 9.22% in value and 4.12% in volume, as compared to the previous year. Leather footwear exports took the biggest hit

According to the Pakistan Bureau of Statistics (PBS), the country shipped 21.51 million pairs of shoes between July 2023 and June 2024, generating 162.0 million US dollars. These figures reflect a drop of 4.12% in volume and 9.22% in value, on a comparable basis to the prior fiscal year. The leather footwear segment has taken the biggest hit in fiscal 2023-2024.

Pakistan exported 9.51 million pairs of leather shoes, worth 124.9 million US dollars, in the twelve months to June, down by 7.93% in volume and 12.07% in value, as compared to the same period of the previous year. This segment accounted for approximately 77% of the total value exported.

Although to a lesser extent, the other footwear segment also underperformed, with full year exports declining by 1.05% in volume (11.85 million pairs of shoes) and by 2.39% in value (34.3 million US dollars), on a comparable basis to the full year 2023-2024. Meanwhile, canvas footwear exports increased by 15.64% in volume and 110.45% in value year-on-year.

Leather Exports

It’s also important to note that between July 2023 and June 2024, the value of leather manufacturers’ exports fell by 5.46% to 545.9 million US dollars and finished leather exports fell by 17.92% to 137.58 million US dollars, as compared to previous fiscal year.

Pakistani footwear industry

According to the World Footwear 2024 Yearbook (more information available HERE), Pakistan’s footwear industry is one of the largest in the world, employing over 2 million people. However, it mainly serves the domestic market, resulting in minimal reliance on imports. Despite its size, Pakistan ranks only 46^th in the world in terms of footwear exports by value, with European countries among its main international markets.

Image Credits: Mohammad Mehdi Rezai on Unsplash

Pakistan Exports Footwear International Trade Leather