Monday , September 28 2020
Breaking News
Home / Breaking News / Plastic imports fall 11.6pc to $1.63b
Plastic imports fall 11.6pc to $1.63b

Plastic imports fall 11.6pc to $1.63b

ISLAMABAD: The import of plastic material into the country witnessed a decline of 11.64pc during the first ten months of the current financial year (FY20) as compared to the corresponding period of last year.

Pakistan imported plastic worth $1.63 billion during July-April FY20 as compared to the imports of $1.85 billion during July-April FY19, according to data released by the Pakistan Bureau of Statistics (PBS).

In terms of quantity, however, plastic imports witnessed an increase of 2.62pc, as the country imported 1,318,942 metric tonnes of plastic during the period under review as compared to the imports of 1,285,229 metric tonnes last year.

Meanwhile, on a year-on-year basis, plastic imports into the country during April 2020 dipped by 34.89pc, from $223.307 million in April 2019 to $145.405 million.

Similarly, on a monthly basis, plastic imports during April 2020 declined by 11.44pc when compared to the imports of $164.194 million in March 2020.

It is pertinent to mention that the country’s trade deficit witnessed a 27.77pc reduction in the first 11 months (July-May) of FY20.

The country’s exports witnessed a decrease of 6.87pc to $19.796 billion in 11MFY20, as against the exports of $21.256 billion during the same period of last year. On the other hand, imports plunged by 18.96pc to $40.854 billion, as against the imports of $50.410 billion during the same period of last year.