Plastic imports decreased by 13.94% in 5 months of current FY 2019-20
ISLAMABAD, Jan 7 (APP):The plastic imports into the country decreased by 13.94 percent during the first five months of the current financial year (2019-20) as compared to the corresponding period of last year.
Pakistan imported plastic worth $791.784 million during July-November (2019-20) compared to the imports of $920.072 million during July-November (2018-19), showing negative growth of 13.94 percent, according to the Pakistan Bureau of Statistics (PBS).
In terms of quantity, the imports of plastic witnessed nominal decline of 0.03 percent as the country imported 619,548 metric ton of plastic during the period under review compared to the imports of 619,720 metric ton during last fiscal year.
Meanwhile, on year-on-year basis, the plastic imports into the country during November 2019 witnessed increase of 7.48 percent when compared to the imports of the same month of the last year.
The plastic imports during the months under review were recorded at $80.017 million against the imports of $86.487 million during November 2018. On month-on-month basis, the plastic imports during November 2019 also decreased by 11.69 percent when compared to the imports of $90.606 million in October 2019, the data revealed.
It is pertinent to mention here that the country’s merchandise trade deficit plunged by 33.04 percent during the first five 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-November (2019-20) was recorded at $ 9.668 billion against the deficit of $14.439 billion during July-November (2018-19), the data revealed. The exports during the period increased from $ 9.109 billion during last year to $ 9.545 billion during the current fiscal year, showing growth of 4.79 percent.
On the other hand, the imports into the country witnessed decline of 18.41 percent by falling from $ 23.548 billion last year to $19.213 billion during the current fiscal year, the data revealed.
