ISLAMABAD-The exports of cutlery from the country witnessed decrease of 3.45 percent during the ten months of ongoing financial year 2019-20 as compared to the corresponding period of last year.

The country exported cutlery worth $72.051 million during July-April (2019-20) against the exports of $74.625 million during July- April (2018-2019), showing negative growth of 3.45 percent, according to the Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the cutlery exports also decreased by 78.79 percent during the month of April 2020 as compared to the same month of last year.

The cutlery exports in April 2020 were recorded at $ 2.151 million against the exports of $10.143 million in April 2019, the PBS data revealed. On month-on-month basis, the export of cutlery declined by 70.89 percent in April 2020 as compared to the exports of $7.390 million in March 2020.

It is pertinent to mention here that the country’s trade deficit witnessed significant reduction in first ten months financial year and declined by 25.24 percent as compared to the corresponding period of last year.

During the period under review, country’s exports registered about 3.92 percent decrease, whereas imports witnessed sharp decline of 16.24 percent.

The exports witnessed decrease of 3.92 percent and reached $18.408 billion against the exports of $19.160 billion of the same period of last year, it added.

On the other hand, the country’s imports witnessed significant decrease of 16.25 percent and went down from $45.393 billion during July-March (2018-19) to $38.021 billion during July-April (2019-20), it said.

Based on the figures, the trade deficit during the period under review was recorded at $19.613 billion against the deficit of $26.233 billion during last year, showing decline of 25.24 percent.