Cutlery exports up by 1.73 percent to $91.325 mln

ISLAMABAD: The cutlery exports from the country witnessed an increase of 1.73 percent during the financial year 2018-19 as compared to the corresponding period of last year.

Pakistan exported cutlery worth $91.325 million during July-June (2018-19) against the exports of $89.773 million during July-June (2017-18), showing growth of 1.73 percent, according to the Pakistan Bureau of Statistics (PBS).

On year-on-year basis, the cutlery exports from the country during June 2019 witnessed positive growth of 2.31 percent when compared to the same month of the last year.

The cutlery exports during June 2019 were recorded at $7.317 million against the export of $7.152 million in June 2018.Meanwhile, on month-on-month basis, the cutlery export in June 2019, however witnessed decrease of 22.02 percent when compared to the export of $9.383 million in May (link: http://2019.It) 2019.

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