Plastic imports decrease 7.94pc in 8 months of FY2019-20

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ISLAMABAD -The imports of plastic supplies into the nation witnessed decline of seven.94 p.c in the course of the first eight months of present monetary yr (2019-20) as in comparison with the corresponding interval of final yr.

Pakistan imported plastic value $1326.052 million throughout July-February (2019-20) in comparison with the imports of $1440.492 million throughout July-February (2018-19), exhibiting unfavourable progress of seven.94 p.c, in line with the Pakistan Bureau of Statistics (PBS).

When it comes to amount, the imports of plastic witnessed improve of seven.23 p.c because the nation imported 1,059,006 metric ton of plastic in the course of the interval below overview in comparison with the imports of 987,612 metric ton throughout final fiscal yr.

In the meantime, on year-on-year foundation, the plastic imports into the nation throughout February 2020 witnessed improve of 6.53 p.c when in comparison with the imports of the identical month of the final yr.

The plastic imports in the course of the months below overview had been recorded at $202.790 million towards the imports of $190.354 million throughout February 2019.

On month-on-month foundation, the plastic imports throughout February 2020 additionally elevated by 15.54 p.c when in comparison with the imports of $175.518 million in January 2020, the information revealed.

It’s pertinent to say right here that the nation’s merchandise commerce deficit plunged by 26.45 p.c in the course of the first 9 months of the present fiscal yr (2019-20) as in comparison with the deficit of the identical months of final yr.

In the course of the interval below overview, the nation’s exports registered about 2.23 per cent progress, whereas imports decreased by 14.42 per cent, in accordance the international commerce statistics, launched by the Pakistan Bureau of Statistics (PBS).

In the course of the interval from July-March (2019-20), exports reached to $17.451 billion towards the exports of $17.071 billion of the identical interval of final yr, it added.

In the meantime, the nation’s imports witnessed vital lower of 14.42 % as these went down from $40.679 billion in first 9 months of final monetary yr to $34.814 billion of identical interval of present monetary yr, it mentioned.