Export of artificial jewellery decreased by over 32 percent

Export of artificial jewellery decreased by over 32 percent during the eleven months of ongoing financial year 2019-20 as compared to the corresponding period of last year.

The country exported jewellery worth US $3.204 million during July-May (2019-20) against the exports of US $4.725 million during July- May (2018-2019).

Export of artificial jewellery decreased

According to the Pakistan Bureau of Statistics (PBS) data, it showed decline of 32.19 percent.

Meanwhile, on year-on-year basis, the artificial jewellery exports also decreased by 100 percent during the month of May 2020 as compared to the same month of last year.

The jewellery exports in May 2020 were recorded zero against the exports of $0.468 million in May 2019, the PBS data revealed.

On month-on-month basis the export of artificial jewellery also declined by 100 percent in May 2020 as compared to the exports of $ 0.004 million in May 2020.

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 27.75% as compared to the corresponding period of last year.

The exports witnessed decrease of 6.85% and reached to $19.801 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 18.93% and went down from $50.410 billion last financial year to $40.866 billion of same period of current financial year.

Based on the figures, the trade deficit during the period under review was recorded at $21.065 billion against the deficit of $29.154 during last year, showing decline of 27.75 percent.

GTV