Plastic Exports Decrease 5.53% To $274.198 Million

Sports Desk

ISLAMABAD: The exports of plastic materials from the country witnessed decreased of 5.53 percent during the eleven months of financial year (2019-20) as compared to the corresponding period of last year.

Pakistan exported plastic worth $274.198 million during July-May (2019-20) compared to the exports of $290.240 million during July- may (2018-19), showing a decline of 5.53 percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of plastic witnessed an increase of 16.03 percent as the country exported 264,380 metric ton of plastic during the period under review as compared to the exports of 227,855 metric ton during last fiscal year.

Meanwhile, on year-on-year basis, the plastic exports from the country during May 2020 witnessed increase of 4.47 percent as compared to the exports of the same month of the last year.

The plastic exports during the months under review were recorded at $27.830 million against the exports of $26.

639 million during May 2019.

On month-on-month basis, the plastic exports during May 2020 also rose by 3.96 percent as compared to the exports of $26.769 million in April 2020, the data revealed.

It is pertinent to mention here that the country’s trade deficit witnessed significant reduction in eleven months of current financial year and declined by 27.75% as compared to the corresponding period of last year.

The exports witnessed decrease of 6.85% and reached to $19.801 billion against the exports of $21.256 billion of the same period of last year.

On the other hand, the country’s imports witnessed significant decrease of 18.93% and went down from $50.410 billion last financial year to $40.866 billion of same period of current financial year.

Based on the figures, the trade deficit during the period under review was recorded at $21.065 billion against the deficit of $29.154 during last year, showing decline of 27.75 percent.