Cutlery exports increase 7.80% in 8 months

ISLAMABAD:The cutlery exports from the country witnessed an increase of 7.80 percent during the first eight months of current financial year (2019-20) as against the exports of corresponding period of last year (2018-19).

Pakistan exported cutlery worth $62.676 million during July-February (2019-20) against the exports of $ 58.142 million during July-February (2018-19), showing growth of 7.80 percent, according to the Pakistan Bureau of Statistics (PBS).

On year-on-year basis, the cutlery exports from the country during February 2020 also grew by 11.23 percent when compared to the same month of the last year.

The cutlery exports during February 2020 were recorded at US $ 7.857 million against the export of US $ 7.064 million in February 2019.

Meanwhile, on month-on-month basis, the cutlery export in February 2020 increase by 6.30 percent when compared to the export of US $ 7.391 million in January 2019.

It is pertinent to mention here that the trade deficit during the first eight month of the current fiscal year reduced by 26.06 percent as compared to the corresponding period of last year.

The trade deficit during July-February (2019-20) was recorded at $15.872 billion against the deficit of $21.467 billion during July-February (2018-19), the PBS data revealed.

The exports from the country during the period increased by 3.62 percent by going up from $15.097 billion last year to $15.643 billion during the current year whereas the imports into the country declined by 13.81 percent, from $36.563 billion to $31.515 billion.