Plastic import increases 3.32pc in 4 months

ISLAMABAD: The import of plastic material into the country witnessed an increase of 13.32 percent during the first four months of the current financial year (2020-21) as compared to the corresponding period of last year.

Pakistan imported plastic worth $701.579 million during July-October 2020-21 as compared to the imports of $619.097 million during July-October 2019-20, according to data released by the Pakistan Bureau of Statistics (PBS).

In terms of quantity, however, plastic imports witnessed an increase of 43.99, as the country imported 674,847 metric tonnes of plastic during the period under review as compared to the imports of 468,666 metric tonnes last year.

Meanwhile, on a year-on-year basis, plastic imports into the country during October 2020 rose by 18.70 percent, from $153.913 million in October 2019 to $182.686 million.

Similarly, on a monthly basis, plastic imports during October 2020 however declined by 3.03 percent when compared to the imports of $188.400 million in September 2020.

It is pertinent to mention here that the overall merchandize trade deficit decreased by 1.36 percent during the first four months of current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year.

The deficit during July-October (2020-21) was recorded at $7.617 billion as compared to the deficit of $7.722 billion, showing decrease of 1.36 percent.

During the period under review, the country’s exports registered positive growth of 0.62 percent, by going up from $7.529 billion last year to $7.576 billion during the current year.

On the other hand, the imports decreased by 0.38 percent, from $15.251 billion last year to $15.193 billion during the current year.