Jewellery exports decrease by 22pc in first 10 months

ISLAMABAD: The Jewellery exports from the country decreased by 22.47 percent during the first ten months of the current fiscal year compared to the corresponding period of last year.

The Jewellery exports from the country during July-April (2018-19) were recorded at US $ 4.255 million against the exports of US $ 5,488 million during July-April (2017-18), showing decline of 22.47 percent, according to the data of Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the Jewellery exports from the country decreased by 2.07 percent in April 2019 compared to the exports of same month of the last year. The Jewellery exports from the country during April 2019 were recorded at US $ 0.425 million against the exports of  US $0.434 million in April 2018.

On the other hand, the month-on-month exports of jewellery, however, increased by 490.28 percent during April 2019 when compared to the exports of US $ 0.072 million in March 2019.

It is pertinent to mention here that the country's merchandize trade deficit plunged by 12.82 percent during the first ten months of the current fiscal year compared to the corresponding period of last year.

The trade deficit contracted by US $ 3.867 billion to US $ 26.302 billion during July-April

(2018-19) against the deficit of US $ 30.169 billion recorded during July-April (2017-18).

The exports during the period under review witnessed nominal decrease of 0.12% by falling from US $ 19.191 billion during last year to US $ 19.169 billion during the ongoing fiscal year.

On the other hand, the imports declined by 7.88% to US $ 45.471 billion during the period under review from US $ 49.360 billion last year, the data revealed.