Plastic imports decrease 8.45pc to $1490.245m
ISLAMABAD: The imports of plastic materials into the country witnessed a decrease of 8.45 percent during the first three quarters of financial year (2019-20) as compared to the corresponding period of last year.
Pakistan imported plastic worth $1490.245 million during July-March (2019-20) compared to the imports of $1627.873 million during July- March (2018-19), showing negative growth of 8.45 percent, according to the Pakistan Bureau of Statistics (PBS).
In terms of quantity, the imports of plastic witnessed an increase of 6.79 percent as the country imported 1,199,206 metric ton of plastic during the period under review compared to the imports of 1,122,987 metric ton during last fiscal year.
Meanwhile, on year-on-year basis, the plastic imports into the country during March 2020 dipped by 12.37 percent when compared to the imports of the same month of the last year.
The plastic imports during the months under review were recorded at $164.194 million against the imports of $187.382 million during March 2019.
On month-on-month basis, the plastic imports during March 2020 also declined by 19.03 percent when compared to the imports of $202.790 million in February 2020, the data revealed.
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 to $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