Tobacco exports increase 137.53pc in July 2020

ISLAMABAD: The exports of tobacco from the country witnessed an increase of 137.53 percent during the first month of ongoing financial year 2020-21 as compared to the exports of corresponding period of last year.

The tobacco exports from the country were recorded at US $ 2.171 million during July 2020 against the exports of $0.914 million during July 2019, showing growth of 137.53 percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of tobacco also increased by 151.87 percent by going up from 268 metric tons to 675 metric tons, according to the data.

Meanwhile, on month-on-month basis, the exports of tobacco witnessed decreased of 32.14 percent during July 2020 when compared to the exports of US $ 3.199 million in June 2020, the PBS data revealed.

It is pertinent to mention here that the trade deficit during the first month of the current fiscal year was dipped by 7.72 percent as compared to the corresponding period of last year.

The trade deficit during July 2020 was recorded at US $ 1.686 billion against the deficit of US $ 1.827 million in July 2019, the data revealed.

During the month under review, the exports from the country increased by 6.10 percent, from US $ 1.886 billion last year to US $ 2.001 billion during the current year.

On the other hand, the imports witnessed negative growth of 0.70 percent by falling from US $ 3.713 billion last year to US $ 3.687 billion this year.