Metal exports increase by 2.3x in July: SBP

Sep 03, 2019: The exports of base metals and articles from the country grew by 126.62 percent during the first month of current financial year (2019-20) as compared to the corresponding month of last year.

During the month of July, 2019, the export of base metals and its articles was recorded at $77.331 million against $34.123 million exports recorded during the same month of last year, showing growth of 2.3 times according to the data issued by the State Bank of Pakistan.

The commodities that contributed in positive growth included iron and steel, export of which grew from $4.682 million last year to $4.946 million during the period under review, showing increase of 5.63 percent.

The exports of iron and steel articles grew by 10.90 percent from $3.319 million to $3.681 million while the exports of copper and its articles also increased by 4 times from $13.439 million to $55.696 million.

During the period under review, the export of aluminum and its articles increased by 2.3 times, from $2.283 million to $5.176 million whereas the export of other metals increased by 2.8 times from $0.073 million to $0.206 million, the data revealed.

The export of tools, Implements, cutlery, spoons and forks of base increased by 19.64 percent from $5.538 million to $6.626 million while the exports of miscellaneous articles of base metals also increased by 12.4 times from $0.139 million to $0.339 million.

During first month of current financial year, the commodities that contributed in negative growth included nickel and its articles, exports of which declined by 66.66 percent from $0.039 million to $0.013 million while the export of zinc and its articles also decreased by 89.85 percent from $4.612 million to $0.468 million.

APP