Plastic import declines over 4pc in 8 months

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ISLAMABAD: The plastic materials import into the country during first eight month of current fiscal year decreased by 4.28 percent as compared to the corresponding period of last month.

Pakistan imported plastic materials worth $1.44 million during July – February (2018-19) compared to the imports of $1.505 million during July – February (2017-18) showing negative growth of 4.28 percent, according to latest data issued by Pakistan Bureau of Statistics (PBS).

In terms of quantity, Pakistan imported 1,019,093 metric tons of Plastic during current year as compared to the imports of 982,250 metric tons during corresponding period of last year showing an increase of 3.75 percent in term of quantity.

Meanwhile, on year-on-year basis, the plastic material imports witnessed negative growth of 2.10 percent in February 2019 when compared to the imports of the same month of last year. The plastic imports during February 2019 were recorded at $ 0.19 million against the imports of $ 0.194 million in February 2018.

On month-on-month basis, the plastic material imports witnessed positive growth of 12.22 percent during the February 2019 when compared to the imports of $ 0.169 million in January 2019, the PBS data revealed.

It is pertinent to mention here that the country’s merchandize trade deficit plunged by 11.03 percent during July-February (2018-19) as the deficit contracted by over $2.668 billion to $21.523 billion during the first eight months against the deficit of $24.191 billion the previous year.

The exports during the period under review witnessed an increase of 1.85 percent to $15.113 billion from $14.838 billion whereas the imports declined by 6.13 percent to $36.636 billion from $39.029 billion recorded during eight months of current fiscal year, the data revealed.

 

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