Cutlery exports increase 28.64% to $70.307 mln

ISLAMABAD: The exports of cutlery from the country witnessed an increase of 28.64 percent during the seven months of financial year 2020-21 as compared to the corresponding period of last year.

The country exported cutlery worth US $70.307 million during July-January (2020-21) against the exports of US $54.653 million during July-January (2019-20), showing growth of 28.64 percent, according to the Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the cutlery exports also rose by 49.85 percent during the month of January 2021 as compared to the same month of last year.

The cutlery exports in January 2021 were recorded at $ 10.827 million against the exports of $7.225 million in January 2020, the PBS data revealed.

On month-on-month basis the export of cutlery increased by 8.51 percent in January 2021 as compared to the exports of $9.978 million in December 2020.

It is pertinent to mention here that the country’s trade deficit witnessed an increase of 8.67 percent during the seven months of financial year 2020-21, as compared to the corresponding period of last year.

The exports witnessed increase of 5.63% and reached to $14.256 billion against the exports of $13.496 billion of the same period of last year.

On the other hand, the country’s imports also rose by 7.17% and went up from $27.316 billion last fiscal year to $29.274 billion of same period of fiscal year 2020-21.