Export of plastic material grows 30pc in 10 months

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ISLAMABAD: The export of plastic material from the country witnessed an increase of 30.18pc during the first ten months of the current fiscal year as against the exports of the corresponding period of last year.

Plastic exports from the country were recorded at $263.655 million during July-April 2018-19 as against the exports of $202.527 million during July-April 2017-18, according to the Pakistan Bureau of Statistics.

In terms of quantity, the export of the plastic witnessed an increase of 13.01pc, as it went up to 206,421 metric tonnes from 182,657 metric tonnes.

Meanwhile, on a year-on-year basis, the plastic material exports witnessed an increase of 57.76pc in April 2019 as compared to the same month of last year. The plastic material exports in April 2019 were recorded at $ 20.593 million as against the exports of $13.053 million in April 2018.

However, on a month-on-month basis, the export of plastic material witnessed a decrease of 23pc in April 2019 as compared to the export of $26.745 million in March 2019.

It is pertinent to mention that the country’s merchandize trade deficit plunged by 12.82pc during the first 10 months of the current fiscal year as 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 as 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 it fell from $19.191 billion 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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