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Cutlery export increases 23.82oc in 4 months

Cutlery export increases 23.82oc in 4 months

ISLAMABAD: The cutlery exports from the country witnessed an increase of 23.82 percent during the first four months of current financial year (2020-21) as compared to the corresponding period of last fiscal year.

The country exported cutlery worth US $39.060 million during July-October (2020-21) against the exports of US $31.547 million during July-October (2019-20), showing growth of 23.82 percent, according to the Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the cutlery exports grew by 42.76 percent during the month of October 2020 as compared to the same month of last year.

The cutlery exports in October 2020 were recorded at $11.007 million against the exports of $7.710 million in October 2019, the PBS data revealed.

On month-on-month basis, the exports of cutlery rose by 14.56 percent during October 2020, when compared to the exports of US $9.608 million during September 2020, according to the data.

It is pertinent to mention here that the overall merchandize trade deficit decreased by 1.36 percent during the first four months of current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year.

The deficit during July-October (2020-21) was recorded at $7.617 billion as compared to the deficit of $7.722 billion, showing decrease of 1.36 percent.

During the period under review, the country’s exports registered positive growth of 0.62 percent, by going up from $7.529 billion last year to $7.576 billion during the current year.

On the other hand, the imports decreased by 0.38 percent, from $15.251 billion last year to $15.193 billion during the current year.