Electric fan export rise 9.26% in Q1FY2020-21

ISLAMABAD: The exports of electric fan from the country witnessed an increase of 9.26 percent during the first quarter (Q1) of financial year (2020-21) as compare to the corresponding period of last fiscal year.

The country exported electric fan worth US $7.365 million during July-September (2020-21) as against the exports of US $6.741 million during July-September (2019-20), showing growth of 9.26 percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of electric fan also rose by 22.98 percent by going up from 383,000 to 471,000, according to the data.

Meanwhile, on year-to-year basis, the exports of electric fan grew by 2.01 percent during the month of September 2020 as compared to the same month of last year.

The exports of fan from the country during September 2020 were recorded at $1.722 million against the exports of $1.688 million in September 2019.

On month-on-month basis, the exports of electric fan however decreased by 23.53 percent during September 2020 as compared to the exports of $2.252 million in August 2020, the PBS data revealed.

It is pertinent to mention here that the overall merchandize trade deficit increased by 2.02 percent during the first quarter of current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year.

The deficit during July-September (2020-21) was recorded at $5.804 billion as compared to the deficit of $5.689 billion, showing increase 2.02 percent.

During the period under review, the country’s exports registered negative growth of 0.94 percent, by going down from $5.510 billion last year to $5.458 billion during the current year.

On the other hand, the imports decreased by 0.56 percent, from $11.199 billion last year to $11.262 billion during the current year.