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Cutlery exports decrease 9.39pc during FY 2020

Cutlery exports decrease 9.39pc during FY 2020

ISLAMABAD: The exports of cutlery from the country witness decreased of 9.39 percent during the fiscal year 2019-20 as compared to the corresponding period of last year.

The country exported cutlery worth US $82.638 million during July-June (2019-20) against the exports of US $91.205 million during July- June (2018-2019), showing negative growth of 9.39 percent, according to the Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the cutlery exports also decreased by 19.17 percent during the month of June 2020 as compared to the same month of last year.

The cutlery exports in June 2020 were recorded at $ 5.917 million against the exports of $7.320 million in June 2019, the PBS data revealed. On month-on-month basis the export of cutlery however witnessed grew of 23.32 percent in June 2020 as compared to the exports of $4.798 million in May 2020.

It is pertinent to mention here that the country s trade deficit witnessed significant reduction during the fiscal year 2019-20 and declined by 27.12% as compared to the corresponding period of last year.

The exports witnessed decrease of 6.81% and reached to $21.394 billion against the exports of $22.958 billion of the same period of last year.

On the other hand, the country s imports witnessed significant decrease of 18.61% and went down from $54.763 billion last fiscal year to $44.574 billion of same period of fiscal year 2019-20.

Based on the figures, the trade deficit during the period under review was recorded at $23.180 billion against the deficit of $31.805 during last year, showing decline of 27.12 percent.