ISLAMABAD               -            The imports of plastic materials into the country witnessed decreased of 11.64 per cent during the first ten months of financial year (2019-20) as compared to the corresponding period of last year.

Pakistan imported plastic worth $1635.650 million during July-April (2019-20) compared to the imports of $1851.180 million during July- April (2018-19), showing negative growth of 11.64 per cent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the imports of plastic witnessed an increase of 2.62 per cent as the country imported 1,318,942 metric ton of plastic during the period under review compared to the imports of 1,285,229 metric ton during last fiscal year. Meanwhile, on year-on-year basis, the plastic imports into the country during April 2020 dipped by 34.89 per cent when compared to the imports of the same month of the last year.

The plastic imports during the months under review were recorded at $145.405 million against the imports of $223.307 million during April 2019. On month-on-month basis, the plastic imports during April 2020 also declined by 11.44 per cent when compared to the imports of $164.194 million in March 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 27.77 per cent as compared to the corresponding period of last year.

The exports witnessed decrease of 6.87 per cent and reached to $19.796 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 18.96 per cent and went down from $50.410 billion last financial year to $40.854 billion of same period of current financial year. Based on the figures, the trade deficit during the period under review was recorded at $21.058 billion against the deficit of $29.154 during last year, showing decline of 27.77 per cent.