Cutlery exports decrease by 3.08pc in 7 months

March 12, 2019: The Cutlery exports from the country decreased by 3.08 percent during the first seven months of the current fiscal year as against the exports of the corresponding period of last year.

The exports of Cutlery were recorded at $51.071 million during July-January (2018-19) against the exports of $52.693 million during July-January (2017-18), according to data released by Pakistan Bureau of Statistics (PBS).

On year-on-year basis, the cutlery exports from the country during January 2019 went up by 4 percent compared to the same month of last year. The cutlery exports during January 2019 were recorded at $6.914 million against the exports of $6.648 million in January 2018.

On month-on-month basis, the exports of Cutlery in January 2019 witnessed declined of 13.01 percent when compared to the exports of $7.948 million in December 2018.

It is pertinent to mention here that the country's overall merchandize trade deficit plunged by 9.66 percent during July-January (2018-19) as the deficit contracted by over $2 billion to $19.264 billion in the period under review against the deficit of $21.324 billion recorded during same period of the previous year.

The exports during the period of current fiscal year also witnessed an increase of 2.24 percent to $13.231 billion from $12.941 billion during last year while the imports declined by 5.17 percent to $32.495 billion from $34.265 billion during first seven months of current fiscal year, PBS reported.

On the other hand, services trade deficit shrank by 29.11 percent during the first half of the current fiscal year compared to the corresponding period of last year.

The services trade deficit during July-December (2018-19) was recorded at $1.945 billion against the deficit of $2.744 billion during July-December (2017-18), showing decline of 29.11 percent, the data revealed.

 (APP)