Cutlery exports increase 7.30% in 7 months

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ISLAMABAD, Feb 18 (APP):The cutlery exports from the country witnessed an increase of 7.30 percent during the first seven months of current financial year (2019-20) as against the exports of corresponding period of last year (2018-19).

Pakistan exported cutlery worth $54.804 million during July-January (2019-20) against the exports of $51.077 million during July-January (2018-19), showing growth of 7.30 percent, according to the Pakistan Bureau of Statistics (PBS).

On year-on-year basis, the cutlery exports from the country during January 2020 also grew by 6.76 percent when compared to the same month of the last year.
The cutlery exports during January 2020 were recorded at $7.391million against the export of $6.923 million in January 2019.

Meanwhile, on month-on-month basis, the cutlery export in January 2020 however witnessed nominal decreased of 0.18 percent when compared to the export of $7.404 million in December 2019.

It is pertinent to mention here that the country’s merchandise trade deficit plunged by 28.40 percent during the first seven months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.

During the period under review, the country’s exports registered about 2.14 per cent growth, whereas imports reduces by 15.95 per cent, according the foreign trade statistics, released by the Pakistan Bureau of Statistics (PBS).

During the period from July-January (2019-20), exports reached to $13.498 billion against the exports of $13.216 billion of the same period of last year, it added.

Meanwhile, the country’s imports witnessed significant decrease of 15.95 % as these went down from $32.420 billion in first seven months of last financial year to $27.249 billion of same period of current financial year, it said.