Cutlery export increases 9.43pc in 2 months

ISLAMABAD: The cutlery exports from the country witnessed an increase of 9.43 percent during the first two months of current financial year (2020-21) as compared to the corresponding period of last fiscal year.

The country exported cutlery worth US $18.446 million during July-August (2020-21) against the exports of US $16.856 million during July-June (2019-20), showing growth of 9.43 percent, according to the Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the cutlery exports witnessed nominal increase of 1.58 percent during the month of August 2020 as compared to the same month of last year.

The cutlery exports in August 2020 were recorded at $ 8.288 million against the exports of $8.159 million in August 2019, the PBS data revealed.

On month-on-month basis, the exports of cutlery however witnessed decrease of 18.41 percent during August 2020, when compared to the exports of US $ 10.158 million during July 2020, according to the data.

The country trade deficit witnessed reduction of 8.32 percent during the first two months current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year.

The deficit during July-August (2020-21) was recorded at $3.382 billion against the deficit of $3.689 billion, the data revealed.

During the period under review, the country’s exports registered negative growth of 4.27 percent, by going down from $3.744 billion last year to $3.584 billion during the current year.

On the other hand, the imports witnessed decreased of 6.28 percent, from $7.433 billion last year to $6.966 billion this year.