Political uncertainty affects leather industry
It appears that the current state of emergency in Pakistan and an uncertain political future is also affecting leather exports in the country. According to figures released by the Federal Bureau of Statistics the sector’s exports slipped 6.49% month-on-month in October to $77.276 million, down from $82.638 million in September. However, on a more positive note, the figures were still an improvement compared with last year, up 14.01% from the $67.777 million reported in October 2006.
Finished goods have suffered the most with leathergoods exports falling 17.1%, from $46.638 million to $38.663 million, and footwear slipping 16.34% to $6.691 million from $7.998 million month-on-month. However, finished leather exports still improved despite the turmoil, rising 14% to $31.922 million from $28.002 million in September.
Although the current political situation has inevitably affected the industry, unfortunately it has only exacerbated an already established trend.
Total leather exports for the first four months of the current fiscal year (July to October) fell by 4.61% to $321.205 million from $336.732 million in same period last year.
During the four-month period, finished leather exports improved once again, rising 7.11% in terms of volume and 21.07% in value to 6,053,000m2 worth $114.855 million, compared with 5,651,000m2 valued at $94.865 million in the same period of 2006; whilst leathergoods fell 17.04% to $170.966 million and footwear exports declined 1.13% to 5,304,000 pairs worth $35.384 million.
