Cutlery exports increase 40.11pc to $ 107.491m in 11 months

ISLAMABAD: The exports of cutlery witnessed an increase of 40.11 percent during the first eleven months of financial year 2020-21 as compared to the corresponding period of last year.

The country exported cutlery worth of US $107.491 million during July-May (2020-21) against the exports of US $76.719 million during July-May (2019-20), showing growth of 40.11 percent, according to the Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the cutlery exports also rose by 60.75 percent during the month of May 2021 as compared to the same month of last year.

The cutlery exports in May 2021 were recorded at $7.711 million against the exports of $4.797 million in May 2020, the PBS data revealed.

On month-on-month basis the export of cutlery however witnessed decline of 8.02 percent in May 2021 as compared to the exports of $8.383 million in April 2021.

It is pertinent to mention here that the overall merchandize exports from the country increased by 14.05 percent during the first eleven months of the current fiscal year (2020-21) as compared to the corresponding period of last year.

The exports of the country during July-May (2020-21) were recorded at $22.576 billion against the exports of $19.795 billion during July-May (2019-20), according to the latest PBS data.

The imports during the period under review also increased by 22.50 percent by growing from $40.849 billion last year to $50.039 billion during the first eleven months of current fiscal year.

Based on the figures, the country trade deficit increased by 30.44 percent during the period under review as compared to the corresponding period of last year.

The trade deficit during the period was recorded at $27.463 billion against the deficit of $21.054 billion last year.