Pakistan artificial Jewellery exports dip 16.86pc

Islamabad: The exports of artificial jewellery from the country witnessed decrease of 16.86 percent during the financial year (2018-19) as compared to the corresponding period of last year.

The artificial Jewellery exports from the country during July-June (2018-19) were recorded at $4.911 million against the exports of $5.907 million during July-June (2017-18), showing negative growth of 16.86 percent, according to the data of Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the artificial Jewellery exports from the country however, witnessed a raise of 419.44 percent in June 2019 as compared to the exports of same month of the last year.

The artificial Jewellery exports from the country during June 2019 were recorded at $0.187 million against the exports of $0.036 million in June 2018.On month-on-month basis, the exports of artificial Jewellery declined by 59.96 percent during June 2019 when compared to the exports of $0.467 million in May 2019, the PBS data revealed.

It is pertinent to mention here that the country”s merchandize trade deficit plunged by 15.33 percent during the fiscal year 2018-19 compared to the corresponding period of last year.

The trade deficit contracted to $31.820 billion during July-June (2018-19) against the deficit of $37.583 billion recorded during July-June (2017-18).
The exports during the period under review witnessed decrease of one percent by falling from $23.212 billion during last year to $22.979 billion during the ongoing fiscal year.

On the other hand, the imports declined by 9.86 percent to $54.799 billion during the period under review from $60.795 billion last year, the data revealed.

On year-on-year basis, the merchandize exports declined by 8.77 per cent, from $1.882 billion in June 2018 to $1.717 billion in June 2019 while the imports declined by 22.80 percent from $5.652 billion in June 2018 to $4.364 billion in June 2019, the data revealed.-APP