Artificial Jewellery exports dip 56pc to 0.492 mln

ISLAMABAD, Oct 10 (APP):The exports of artificial Jewellery from the country witnessed decrease of 56.11 percent during the first two months of the current financial year (2019-20) as compared to the corresponding period of last year.

The artificial Jewellery exports from the country during July-August (2019-20) were recorded at $0.492 million against the exports of $1.121 million during July-August (2018-19), showing negative growth of 56.11 percent, according to the data of Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis also, the artificial Jewellery exports from the country witnessed declined of 38.11 percent in August 2019 as compared to the exports of same month of the last year.
The artificial Jewellery exports from the country during August 2019 were recorded at $0.190 million against the exports of $0.307 million in August 2018.

On month-on-month basis, the exports of artificial Jewellery reduced by 37.09 percent during August 2019 when compared to the exports of $0.302 million in July 2019, the PBS data revealed.
It is pertinent to mention here that the trade deficit during first two months of the current fiscal year dipped by 35.86 percent as compared to the corresponding period of last year.

The trade deficit during July-August (2019-20) was recorded at US $ 3.924 billion against the deficit of US $ 6.118 million in July-August (2018-19), the data revealed.

During the period under review, the exports from the country increased by 2.79 percent, from US $ 3.651 billion last year to US $ 3.753 billion during the current year.

On the other hand, the imports witnessed negative growth of 21.41 percent by falling from US $ 9.769 billion last year to US $ 7.677 billion this year.