Artificial Jewellery Exports Dip Over 17% During First Four Months Of Current FY

Faizan Hashmi Published December 09, 2019 | 04:15 PM

The exports of artificial Jewellery dipped by 17.20 percent during the first four months of current financial year (2019-20) as compared to the exports of corresponding period of last year

ISLAMABAD, (UrduPoint / Pakistan Point News - 9th Dec, 2019 ) :The exports of artificial Jewellery dipped by 17.20 percent during the first four months of current financial year (2019-20) as compared to the exports of corresponding period of last year.

The artificial Jewellery exports during July-October (2019-20) were recorded at $1.671 million against the exports of $2.018 million during July-October (2018-19), showing a decline of 17.20 percent, according to the Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the artificial Jewellery exports witnessed increase of 0.99 percent in October 2019 as compared to the exports of the same month of the last year.

The artificial Jewellery exports during October 2019 were recorded at $0.712 million against the exports of $0.705 million in October 2018.

On month-on-month basis, the exports of artificial Jewellery grew by 52.

46 percent during October 2019 when compared to the exports of $0.467 million in September 2019, the PBS data revealed.

It is pertinent to mention here that the country's merchandise trade deficit plunged by 33.52 percent during the first four months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.

The trade deficit during July-October (2019-20) was recorded at $7.776 billion against the deficit of $11.696 billion during July-October (2018-19), the data revealed.

The exports during the period increased from $7.270 billion during last year to $7.547 billion during the current fiscal year, showing growth of 3.81 percent.

On the other hand, the imports into the country witnessed decline of 19.21 percent by falling from $18.966 billion last year to $15.323 billion during the current fiscal year, the data revealed.