Plastic exports decreased by 2% to $152.458 mln

ISLAMABAD, Jan 24 (APP):The exports of plastic materials from the country during the first six months of financial year (2019-20) witnessed decline of 2.09 percent as compared to the corresponding period of last year.

The plastic exports from the country were recorded at $152.458 million during July-December (2019-20) as against the exports of $155.719 million during July-December (2018-19), showing negative growth of 2.09 percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of the plastic however witnessed increase of 19.08 percent by growing from 118,238 metric tons to 140,797 metric ton, according to the data. Meanwhile, on year-on-year basis the plastic exports increased by 32.93 percent during the month of December 2019 when compared to the same month of last year.

The plastic exports in December 2019 were recorded at $ 29.861 million against the exports of $22.464 million in December 2018, the PBS data revealed. On month-on-month basis, the exports of plastic also increased by 61.31 percent in December 2019 when compared to the exports of $18.511 million in November 2019.

It is pertinent to mention here that the country’s merchandise trade deficit plunged by 33.67 percent during the first six 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-December (2019-20) was recorded at $ 11.628 billion against the deficit of $16.771 billion during July-December (2018-19), the data revealed. The exports during the period increased from $ 11.181 billion during last year to $11.535 billion during the current fiscal year, showing growth of 3.17 percent.

On the other hand, the imports into the country witnessed decline of 17.13 percent by falling from $ 27.952 billion last year to $23.163 billion during the current fiscal year, the data revealed.

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