ISLAMABAD: The export of artificial jewellery plunged by 8.79 per cent during the first five months of the current fiscal year (FY20) as compared to the corresponding period of last year, according to data released by the Federal Bureau of Statistics (FBS).
The export of artificial jewellery dropped from $2.503 million in July-November FY19 to $2.283 million in July-November FY20.
However, on a year-on-year basis, the artificial jewellery exports registered an increase of 37.94pc in November 2019.
Artificial jewellery exports during November 2019 were recorded at $0.669 million, as against the exports of $0.485 million in November 2018.
On a month-on-month basis, the exports of artificial jewellery fell by 6.04pc during November 2019 as compared to the exports of $0.712 million in October 2019.
It is pertinent to mention that the country’s merchandise trade deficit plunged by 33.04pc during the first five months of the current fiscal year (2019-20) as compared to the corresponding months of last year.
The trade deficit during July-November FY20 was recorded at $ 9.668 billion, as against the deficit of $14.439 billion during July-November FY19.
Exports during the period jumped slightly from $9.109 billion to $9.545 billion, whereas imports into the country witnessed 18.41pc decline, from $23.548 billion last year to $19.213 billion.
