Plastic exports decrease 22.21pc in 4 months

ISLAMABAD: The exports of plastic materials witnessed decrease of 22.21 percent during the first four months of current financial year (2020-21) as compared to the corresponding period of last year.

Pakistan exported plastic worth $80.973 million during July-October 2020-21 as compared to the exports of $104.086 million during July-October 2019-20, showing a decline of 22.21 percent, according to the Pakistan Bureau of Statistics (PBS) data.

In terms of quantity, the exports of plastic also declined by 9.79 percent as the country exported 85,360 metric ton of plastic during the period under review as compared to the exports of 94,620 metric ton during last fiscal year.

Meanwhile, on year-to-year basis, the exports of plastic material witnessed increase of 9.54 percent during the month of October 2020 as compared to the same month of last year.

The exports of plastic from the country during October 2020 were recorded at $29.807 million against the exports of $26.956 million in October 2019.

On month-on-month basis, the plastic exports during October 2020 rose by 97.04 percent as compared to the exports of $14.985 million in September 2020, the data revealed.

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.