Shoe manufacturing industry has great potential to grow in Pakistan -

The shoe manufacturing industry is one of the ancient and major industries of Pakistan which produces high quality finished products and has a great potential to grow.

Pakistan exports footwear to more than 60 countries in five continents of the world. Pakistan’s exports of footwear have registered a high rate of growth in the recent past.

Revenue in the Footwear segment is projected to reach US$358m in 2021. Revenue is expected to show an annual growth rate (CAGR 2021-2025) of 6.7%, resulting in a projected market volume of US$464m by 2025. User penetration will be 9.7% in 2021 and is expected to hit 14.0% by 2025.

However with yearly exports of only $110 million, Pakistan’s share in global footwear exports is only 0.001 percent. All other countries in the region are exporting much more. These include India, Bangladesh and Sri Lanka.

The economy of Pakistan is the 25th largest in the world in terms of purchasing power parity (PPP), and 42nd largest in terms of nominal gross domestic product. Pakistan has a population of over 200 million, giving it a nominal GDP per capita of $1,641 in 2018.