Plastic exports decline 8pc to $51.053mln

October 1, 2019: The export of plastic materials from the country during the first two months of current financial year (2019-20) witnessed decline of 8.11 percent as compared to the corresponding period of last year.

The plastic exports from the country were recorded at $51.053 million during July-August (2019-20) as against the exports of $55.561 million during July-August (2018-19), showing negative growth of 8.11, according to the latest data issued by Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of the plastic witnessed increase of 14.19 percent by growing from 39,953 metric tons to 45,623 metric ton, according to the data.

Meanwhile, on year-on-year basis, the plastic exports declined by 35.08 percent during the month of August 2019 when compared to the same month of last year.

The plastic exports in August 2019 were recorded at $ 22.261 million against the exports of $34.292 million in August 2018, the PBS data revealed.

On month-on-month basis, the exports of plastic also decreased by 22.68 percent in August 2019 when compared to the exports of $28.792 million in July 2019.

It is pertinent to mention here that the trade deficit during first two months of the current fiscal year dipped by 35.86 percent compared to the corresponding period of last year.

The trade deficit during July-August (2019-20) was recorded at $3.924 billion against the deficit of $6.118 million in July-August (2018-19), the data revealed.

During the period under review, the exports from the country increased by 2.79 percent, from $3.651 million last year to $3.753 million during the current year.

On the other hand, the imports witnessed negative growth of 21.41 percent by falling from $9.769 million last year to $7.677 million this year.

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APP