Cutlery exports up by 1.73 percent to $91.325 mln

ISLAMABAD: The cutlery exports from the country witnessed an increase of 1.73 percent during the financial year 2018-19 as compared to the corresponding period of last year.

Pakistan exported cutlery worth $91.325 million during July-June (2018-19) against the exports of $89.773 million during July-June (2017-18), showing growth of 1.73 percent, according to the Pakistan Bureau of Statistics (PBS).

On a year-on-year basis, the cutlery exports from the country during June 2019 witnessed positive growth of 2.31 percent when compared to the same month of the last year. The cutlery exports during June 2019 were recorded at $7.317 million against the export of $7.152 million in June 2018.

Meanwhile, on month-on-month basis, the cutlery export in June 2019, however, witnessed a decrease of 22.02 percent when compared to the export of $9.383 million in May 2019. It is pertinent to mention here that the country’s merchandise trade deficit plunged by 15.33 percent during the fiscal year 2018-19 compared to the corresponding period of last year.

The trade deficit contracted to $31.820 billion during July-June (2018-19) against the deficit of $37.583 billion recorded during July-June (2017-18). The exports during the period under review witnessed a decrease of one percent by falling from $23.212 billion during the last year to $22.979 billion during the ongoing fiscal year.