Cutlery export increases 23.72pc in five months

ISLAMABAD: The cutlery exports witnessed an increase of 23.72 percent during the first five months of current financial year (2020-21) as compared to the corresponding period of last fiscal year.

The country exported cutlery worth US $49.500 million during July-November (2020-21) against the exports of US $40.009 million during July-November (2019-20), showing growth of 23.72 percent, according to the Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the cutlery exports grew by 23.36 percent during the month of November 2020 as compared to the same month of last year.

The cutlery exports in November 2020 were recorded at $10.439 million against the exports of $8.462 million in November 2019, the PBS data revealed.

On month-on-month basis, the export of cutlery however witnessed decrease of 5.17 percent during November 2020, as compared to the export of US $11.008 million during October 2020, according to the data.

It is pertinent to mention here that the country’s merchandize exports increased by 2.21 percent during the first five months of the current fiscal year as compared to the corresponding period of last year.

The exports during July-November (2020-21) were recorded at $9.747 billion against the exports of $9.536 billion in July-November (2019-20), showing growth of 2.21 percent according to PBS data.

The imports during the period under review also increased 1.63 percent by going up from $19.175 billion last year to $19.487 billion during the current fiscal year.

Based on the figures, there has been slight increase of 1.05 percent in the trade deficit during the period under review as it was recorded at $9.740 billion as compared to the deficit of $9.639 billion during last year.