Tobacco exports increase 17.50% in two months of FY 2020-21
ISLAMABAD: The exports of tobacco from the country witnessed an increase of 17.50 percent during the first two months of ongoing financial year 2020-21 as compared to the exports of corresponding period of last year.
Pakistan exported tobacco worth US $ 3.498 million during July-August (2020-21) against the exports of $2.977 million during July-August (2019-20), showing growth of 17.50 percent, according to the Pakistan Bureau of Statistics (PBS).
In terms of quantity, the exports of tobacco also increased by 13.32 percent by going up from 1,021 metric tons to 1,157 metric tons, according to the data.
Meanwhile, on year-to-year basis, the exports of tobacco witnessed a decrease of 35.53 percent during the month of August 2020 when compared to the same month of last year.
The exports of tobacco from the country during August 2020 were recorded at US $ 1.330 million against the exports of US $ 2.063 million in August 2019.
On month-on-month basis, the exports of tobacco also decline by 38.65 percent during August 2020 as compared to the exports of US $ 2.168 million in July 2020, the PBS data revealed.
It is pertinent to mention here that the country’s merchandize trade deficit witnessed reduction of 7.48 percent during the first two months of current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year. The deficit during July-August (2020-21) was recorded at US $ 3.413 billion as compared to the deficit of US $ 3.689 billion, showing decline of 7.48 percent.
During the period under review, the country’s exports registered negative growth of 4.25 percent, by going down from US $ 3.744 billion last year to US $ 3.585 billion during the current year.
On the other hand, the imports decreased by 5.85 percent, from US $ 7.433 billion last year to US $ 6.998 billion during the current year. – APP