Cutlery exports increase 8.40% in 3 quarters
ISLAMABAD: The cutlery exports witnessed an increase of 8.40 percent during the first three quarters of current fiscal year (2019-20) as against the exports of corresponding period of last year (2018-19).
The cutlery exports during July-March (2019-20) were recorded at $69,900 million against the exports of $64,482 million in July-March (2018-19), showing growth of 8.40 percent.
On year-on-year basis, the cutlery exports during March 2020 also grew by 16.56 percent when compared to the same month of the last year.
The cutlery exports during March 2020 were recorded at US$ 7.390 million against the export of US$ 6.340 million in March 2019.
Meanwhile, on month-on-month basis, the cutlery exports in February 2020 however showed a decline of 5.94 percent as compared to the export of the commodity in February 2019.
It is pertinent to mention here that the country’s trade deficit witnessed significant reduction in first three quarters of current financial year and declined by 26.45% as compared to the corresponding period of last year.
During the period under review country’s exports registered about 2.23% growth, whereas imports reduced by 14.42%.
The exports witnessed an increase of 2.23% and reached $17.451 billion against the exports of $17.071 billion of the same period of last year.
On the other hand, the country’s imports witnessed significant decrease of 14.42% and went down from $40.679 billion last financial year to $34.814 billion of same period of current financial year.
Based on the figures, the trade deficit during the period under review was recorded at $17.363 billion against the deficit of $23.608 during last year, showing decline of 26.45 percent. - APP