Jewellary exports decline 22.4 per cent in 8 months

F.P. Report

ISLAMABAD: The Jewellary exports from the country decreased by 22.48 percent during the first eight months of the current fiscal year compared to the corresponding period of last year.

The Jewellary exports from the country during July-February (2018-19) were recorded at $3.755 million against the exports of $4.844 million during July-February (2017-18), showing decline of 22.48 percent, according to the data of Pakistan Bureau of Statistics.(PBS).

Meanwhile, on year-on-year basis, the Jewellary exports from the country decreased by 4.07 percent in February 2019 compared to the exports of same month of the last year. The Jewellary exports from the country during February 2019 were recorded at $0.354 million against the exports of $0.369 million in February 2018.

On month-on-month basis, the jewellary exports however increased by 14.19 percent  during February 2019 when compared to the exports of $0.310 million in January 2019, the PBS data revealed.

It is pertinent to mention here that the country’s merchandize trade deficit plunged by 11.03% during July-February (2018-19) as the deficit contracted by over $2.668 billion to $21.523 billion during the first eight months against the deficit of $24.191 billion the previous year.

The exports during the period under review witnessed an increase of 1.85 percent to $15.113 billion from $14.838 billion whereas the imports declined by 6.13 percent to $36.636 billion from $39.029 billion recorded during eight months of current fiscal year, the data revealed.