Electric fan exports increases 11.89pc in 1st half of FY 2020-21

ISLAMABAD: The exports of electric fan witnessed an increase of 11.89 percent during the first half of financial year (2020-21) as compare to the corresponding period of last fiscal year.

The country exported electric fan worth US $11.738 million during July-December (2020-21) as against the exports of US $10.491 million during July-December (2019-20), showing growth of 11.89 percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of electric fan also rose by 24.28 percent by going up from 589,000 to 732,000, according to the data.

Meanwhile, on year-to-year basis, the exports of electric fan however witnessed decline of 5.66 percent during the month of December 2020 as compared to the same month of last year.

The exports of fan from the country during December 2020 were recorded at $1.699 million against the exports of $1.801 million in December 2019.

On month-on-month basis, the exports of electric fan witnessed an increase of 16.13 percent during December 2020 as compared to the exports of $1.463 million in November 2020, the PBS data revealed.

It is pertinent to mention here that the country’s trade deficit witnessed an increase of 5.93 percent during the first six months of financial year 2020-21, as compared to the corresponding period of last year.

The exports witnessed increase of 5.09% and reached to $12.110 billion against the exports of $11.524 billion of the same period of last year.

On the other hand, the country’s imports also rose by 5.51% and went up from $23.195 billion last fiscal year to $24.473 billion of same period of fiscal year 2020-21.

Based on the figures, the trade deficit during the period under review was recorded at $12.363 billion against the deficit of $11.671 billion during last year, showing increase of 5.93 percent.