Cutlery exports increase 9pc touching $31 million

ISLAMABAD, Nov 25 (APP):The cutlery exports from the country witnessed an increase of 9.32 percent during the first four months of current financial year (2019-20) as against the exports of corresponding period of last year (2018-19).

Pakistan exported cutlery worth $31.530 million during July-October (2019-20) against the exports of $28.842 million during July-October (2018-19), showing growth of 9.32 percent, according to the Pakistan Bureau of Statistics (PBS).

On year-on-year basis, the cutlery exports from the country during October 2019 declined by 12.09 percent when compared to the same month of the last year. The cutlery exports during October 2019 were recorded at $7.701 million against the export of $8.760 million in October 2018.

Meanwhile, on month-on-month basis, the cutlery export in October 2019, however witnessed increase of 10.44 percent when compared to the export of $6.973 million in September 2019.

It is pertinent to mention here that the country’s merchandise trade deficit plunged by 33.52 percent during the first four 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-October (2019-20) was recorded at $7.776 billion against the deficit of $11.696 billion during July-October (2018-19), the data revealed.

The exports during the period increased from $7.270 billion during last year to $7.547 billion during the current fiscal year, showing growth of 3.81 percent.

On the other hand, the imports into the country witnessed decline of 19.21 percent by falling from $18.966 billion last year to $15.323 billion during the current fiscal year, the data revealed.