ISLAMABAD: The import of plastic materials into the country witnessed a decline of 5.30 per cent during the financial year 2018-19, as compared to the corresponding period of last year.
Pakistan imported plastic material worth $2.22 billion during July-June 2018-19, as compared to the imports of $2.34 billion during July-June 2017-18, according to the latest data issued by Pakistan Bureau of Statistics (PBS).
In terms of quantity, Pakistan imported 1,569 metric tonnes of plastic materials during the period under review, as compared to the imports of 1,524 metric tonnes during the corresponding period of last year, showing an increase of 2.90pc.
Meanwhile, on a year-on-year basis, plastic imports declined by 18.22pc to $156.413 million in June 2019, as compared to $191.261 million recorded in June 2018.
On a month-on-month basis, the plastic material imports decreased by 27.34pc in June 2019 when compared to the imports of $215.262 million in May 2019.
It is pertinent to mention that the country’s merchandise trade deficit plunged by 15.33pc during the fiscal year 2018-19, as compared to the corresponding period of last year.
The trade deficit contracted to $31.820 billion during FY19 as against the deficit of $37.583 billion recorded in FY18.