Staff Reporter
Islamabad
The exports of cutlery witnessed decrease of 8.42 percent during the eleven months of current financial year 2019-20 as compared to the corresponding period of last year.
The country exported cutlery worth US $76.825 million during July-May (2019-20) against the exports of US $83.885 million during July- May (2018-2019), showing a decline of 8.42 percent, according to the Pakistan Bureau of Statistics (PBS).
Meanwhile, the cutlery exports also decreased by 48.19 percent during the month of May 2020 as compared to the same month of last year.
The cutlery exports in May 2020 were recorded at $ 4.798 million against the exports of $9.260 million in May 2019, the PBS data revealed. On month-on-month basis the export of cutlery however witnessed growth of 123.06 percent in May 2020 as compared to the exports of $2.151 million in April 2020.
It is pertinent to mention here that the country’s trade deficit witnessed significant reduction in eleven months of current financial year and declined by 27.75% as compared to the corresponding period of last year.
The exports witnessed decrease of 6.85% and reached to $19.801 billion against the exports of $21.256 billion of the same period of last year.
On the other hand, the country’s imports witnessed significant decrease of 18.93% and went down from $50.410 billion last financial year to $40.866 billion of same period of current financial year.
