Artificial Jewelery exports dip over 8pc during five months of FY 2019-20

• The artificial Jewelery exports during July-November (2019-20) were recorded at $2.283 million against the exports of $2.503 million during July-November (2018-19), showing a decline of 8.79 percent.

ISLAMABAD: The exports of artificial Jewelery dipped by 8.79 percent during the first five months of current financial year (2019-20) as compared to the exports of corresponding period of last year.

The artificial Jewelery exports during July-November (2019-20) were recorded at $2.283 million against the exports of $2.503 million during July-November (2018-19), showing a decline of 8.79 percent, according to the Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the artificial Jewelery exports witnessed increase of 37.94 percent in November 2019 as compared to the exports of the same month of the last year.

The artificial Jewelery exports during November 2019 were recorded at $0.669 million against the exports of $0.485 million in November 2018.

On month-on-month basis, the exports of artificial Jewelery decreased by 6.04 percent during November 2019 when compared to the exports of $0.712 million in October 2019, the PBS data revealed.

It is pertinent to mention here that the country's merchandise trade deficit plunged by 33.04 percent during the first five months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.

The trade deficit during July-November (2019-20) was recorded at $ 9.668 billion against the deficit of $14.439 billion during July-November (2018-19), the data revealed.

The exports during the period increased from $ 9.109 billion during last year to $ 9.545 billion during the current fiscal year, showing growth of 4.79 percent.

On the other hand, the imports into the country witnessed decline of 18.41 percent by falling from $ 23.548 billion last year to $19.213 billion during the current fiscal year, the data revealed.