A positive development for Pakistan on the exports front

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A positive development for Pakistan on the exports front

ISLAMABAD: Cutlery exports from the country witnessed an increase of 9.32pc during the first four months of the current financial year (FY20), as against the exports during the corresponding period of last year.

Pakistan exported cutlery worth $31.530 million during July-October 2019-20, as against the exports of $28.842 million during July-October 2018-19, according to data shared by the Pakistan Bureau of Statistics (PBS).

On a year-on-year basis, cutlery exports from the country during October 2019 declined by 12.09pc when compared to the same month of last year. Cutlery exports during October 2019 were recorded at $7.701 million as against the export of $8.760 million in October 2018.

However, on a month-on-month basis, cutlery exports in Oct 2019 increased by 10.44pc when compared with the export of $6.973 million in Sept 2019.

It is pertinent to mention that the country’s merchandise trade deficit plunged by 33.52pc during the first four months of FY20 as compared to the same month last year.

The trade deficit during the period under review was recorded at $7.776 billion as against the deficit of $11.696 billion in 4MFY19.