ISLAMABAD, Dec 23 (APP):The cutlery exports from the country witnessed an increase of 10.48 percent during the first five months of current financial year (2019-20) as against the exports of corresponding period of last year (2018-19).

Pakistan exported cutlery worth $40.003 million during July-November (2019-20) against the exports of $36.209 million during July-November (2018-19), showing growth of 10.48 percent, according to the Pakistan Bureau of Statistics (PBS).

On year-on-year basis, the cutlery exports from the country during November 2019 grew 14.89 percent when compared to the same month of the last year.

The cutlery exports during November 2019 were recorded at $8.464 million against the export of $7.367 million in November 2018.

Meanwhile, on month-on-month basis, the cutlery export in November 2019, also increased by 9.91 percent when compared to the export of $7.701 million in October 2019.

It is pertinent to mention here that the country’s merchandise trade deficit plunged by 33.04 percent during the first five months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.

The trade deficit during July-November (2019-20) was recorded at $ 9.668 billion against the deficit of $14.439 billion during July-November (2018-19), the data revealed.

The exports during the period increased from $ 9.109 billion during last year to $ 9.545 billion during the current fiscal year, showing growth of 4.79 percent.

On the other hand, the imports into the country witnessed decline of 18.41 percent by falling from $ 23.548 billion last year to $19.213 billion during the current fiscal year, the data revealed.