Plastic imports dip over 10 percent to $1123.260 million
ISLAMABAD: The imports of plastic materials into the country witnessed declined of 10.15 percent during the first seven months of current financial year (2019-20) as compared to the corresponding period of last year.
Pakistan imported plastic worth $1123.260 million during July-January (2019-20) compared to the imports of $1250.137 million during July-January (2018-19), showing negative growth of 10.15 percent, according to the Pakistan Bureau of Statistics (PBS).
In terms of quantity, the imports of plastic witnessed increase of 3.69 percent as the country imported 885,956 metric ton of plastic during the period under review compared to the imports of 854,389 metric ton during last fiscal year.
Meanwhile, on year-on-year basis, the plastic imports into the country during January 2020 witnessed increase of 3.38 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 $175.518 million against the imports of $169.777 million during January 2019.
On month-on-month basis, the plastic imports during January 2020 also increased by 11.25 percent when compared to the imports of $157.765 million in December 2019, the data revealed.
It is pertinent to mention here that the country's merchandise trade deficit plunged by 28.40 percent 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 2.14 per cent growth, whereas imports reduces by 15.95 per cent, according the foreign trade statistics, released by the Pakistan Bureau of Statistics (PBS).
During the period from July-January (2019-20), exports reached US $13.498 billion against the exports of US $13.216 billion of the same period of last year, it added.
Meanwhile, the country’s imports witnessed significant decrease of 15.95 per cent as these went down from US $ 32.420 billion in first seven months of last financial year to US $ 27.249 billion of same period of current financial year, it said. - APP