ISLAMABAD: The import of plastic materials into the country during the first nine months of the current fiscal year has decreased by 6.91 per cent as compared to the corresponding period of last year.
Pakistan imported plastic materials worth $1.62 billion during July-March 2018-19 as compared to the imports of $1748.760 million during July-March 2017-18, according to the latest data issued by the Pakistan Bureau of Statistics (PBS).
In terms of quantity, Pakistan imported 1,144,407 metric tonnes of plastic material during the period under review as compared to the imports of 1,139,497 metric tonnes during the corresponding period of last year, showing an increase of 0.43pc.
Meanwhile, on a year-on-year basis, the plastic material imports witnessed a fall of 23.11pc in March 2019 as compared to the same month of last year. The plastic imports during March 2019 were recorded at $187.258 million as against the imports of $243.546 million in March 2018.
On a month-on-month basis, the plastic material imports witnessed a negative growth of 1.73pc during March 2019 when compared to the imports of $190.564 million in February 2019.
Spices Exports Surge
The export of spices earned $68.445 million for the country during the first three quarters of the current fiscal year 2018-19, showing an increase of 14.65pc when compared to the exports of $59.689 million during the same period of last year.
In terms of quantity, the spices exports increased by 16.64pc during the period under review against the exports of the same period of last year. Spices exports during July-March 2018-19 were recorded at 18,428 metric tonnes as against the exports of 15,799 metric tonnes during July-March 2017-18.
Meanwhile, on a year-on-year basis, the export of spices witnessed a decrease of 0.34pc, as it fell from $9.323 million in March 2018 to $9.291 million in March 2019.
On a month-on-month basis, the exports of spices witnessed an increase of 4.14pc during March 2019 as compared to the exports of $8.922 million in February 2019.
Trade Deficit
It is pertinent to mention that the overall merchandise trade deficit decreased by 13.02pc during July-March 2018-19 as the deficit contracted by over $3.544 billion to $23.672 billion in the period under review against the deficit of $27.216 billion recorded during the same period of the previous year.
The exports during the period under review witnessed an increase of 0.11pc to $17.08 billion from $17.064 billion during July-March (2017-18).
On the other hand, the imports declined by 7.96pc to $40.755 billion from $44.281 billion recorded during the first nine months of the current fiscal year.
On a year-on-year basis, the imports into the country witnessed a negative growth of 20.88pc during March 2019 when compared to the imports in the same month of last year. The imports during March 2019 were recorded at $4.155 billion against the imports of $5.25 billion in March.
