Jewellery exports drop 22pc in 10 months

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ISLAMABAD: Jewellery exports from Pakistan decreased by 22.47 per cent during the first ten months of the current fiscal year as compared to the corresponding period of last year.

Jewellery exports from Pakistan during July-April 2018-19 were recorded at $4.255 million against exports of $5,488 million during July-April 2017-18, showing a decline of 22.47 per cent, according to the data of Pakistan Bureau of Statistics (PBS).

Meanwhile, on a year-on-year basis, jewellery exports from the country decreased by 2.07 per cent in April 2019 compared to the exports of the same month of the last year.

Jewellery exports from the country during April 2019 were recorded at $0.425 million against the exports of $0.434 million in April 2018.

On the other hand, the month-on-month exports of jewellery, however, increased by 490.28 per cent during April 2019 when compared to the exports of $0.072 million in March 2019.

It is pertinent to mention that the country’s merchandise trade deficit plunged by 12.82 per cent during the first ten months of the current fiscal year compared to the corresponding period of last year.

The trade deficit contracted by $3.867 billion to $26.302 billion during July-April 2018-19 against the deficit of $30.169 billion recorded during July-April 2017-18.

The exports during the period under review witnessed a nominal decrease of 0.12pc as they fell from $19.191 billion during the last year to $19.169 billion during the ongoing fiscal year.

On the other hand, the imports declined by 7.88pc to $45.471 billion during the period under review from $49.360 billion last year.

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