Cutlery export decrease 5.69pc during July 2021

ISLAMABAD (PEN) – The cutlery exports witnessed a decrease of 5.69 percent during the first month of current financial year 2021-22, against the exports of the corresponding period of last year.

The country exported cutlery worth $9.580 million during July 2021 against the exports of $10.158 million during July 2020, showing a decline of 5.69 percent, according to the Pakistan Bureau of Statistics (PBS) report.

Meanwhile, on month-on-month basis, the exports of cutlery also decreased by 18.65 percent during July 2020 as compared to the exports of $11.776 million in June 2021, the PBS data revealed.

It is pertinent to mention here that the overall exports from the country witnessed an increase of 16.94 percent during the first month of the current fiscal year (2021-22) as compared to the corresponding month of last year.

According to PBS data, the exports from the country stood at $2.340 billion during July 2021 as against the exports of $2.001 billion recorded during July 2020, showing growth of 16.94 percent.

The imports during the month under review also went up by 52.45 percent by growing from $3.674 billion in July 2020 to $5.601 billion in July 2021.

Based on the data, the trade deficit during the month was recorded at $3.261 billion, showing an increase of 94.92 percent over the deficit of $1.673 billion recorded during July 2020, the PBS data revealed.