FY20: Cutlery exports surge 7.3pc in first seven months

ISLAMABAD: The cutlery exports from the country has witnessed an increase of 7.3 per cent during the first seven months of current financial year FY20 as against the exports of corresponding period of last year FY19.

Pakistan exported cutlery worth $54.804 million during July-January (2019-20) against the exports of $51.077 million during July-January (2018-19), posting a growth of 7.3pc, according to the Pakistan Bureau of Statistics (PBS).

On year-on-year basis, the cutlery exports from the country during January 2020 also grew by 6.76pc when compared to the same month of the last year.

The cutlery exports during January 2020 were recorded at $7.391 million against the export of $6.923 million in January 2019.

Meanwhile, on month-on-month basis, the cutlery exports in January 2020, however, witnessed a nominal decrease of 0.18pc when compared to the export of $7.404 million in December 2019.

Pakistan’s merchandise trade deficit plunged by 28.40pc during the first seven months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.

During the period under review, the country’s exports registered about a 2.14pc growth, whereas, imports reduced by 15.95pc, according the foreign trade statistics released by PBS.

During the period from July-January (2019-20), exports reached to $13.498 billion against the exports of $13.216 billion of the same period of last year.

Meanwhile, the country’s imports witnessed a significant decrease of 15.95pc as those went down from $32.420 billion in the first seven months of the last financial year to $27.249 billion of same period of the current financial year, the FBS states concluded.

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