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

ISLAMABAD -The imports of plastic supplies into the nation witnessed decline of seven.94 p.c throughout the first eight months of present monetary 12 months (2019-20) as in comparison with the corresponding interval of final 12 months.

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 unfavorable 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 enhance of seven.23 p.c because the nation imported 1,059,006 metric ton of plastic throughout the interval beneath assessment in comparison with the imports of 987,612 metric ton throughout final fiscal 12 months.

In the meantime, on year-on-year foundation, the plastic imports into the nation throughout February 2020 witnessed enhance of 6.53 p.c when in comparison with the imports of the identical month of the final 12 months.

The plastic imports throughout the months beneath assessment have been recorded at $202.790 million in opposition to 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 info revealed.

It’s pertinent to say right here that the nation’s merchandise commerce deficit plunged by 26.45 p.c throughout the first 9 months of the present fiscal 12 months (2019-20) as in comparison with the deficit of the identical months of final 12 months.

Throughout the interval beneath assessment, the nation’s exports registered about 2.23 per cent progress, whereas imports diminished by 14.42 per cent, in accordance the international commerce statistics, launched by the Pakistan Bureau of Statistics (PBS).

Throughout the interval from July-March (2019-20), exports reached to $17.451 billion in opposition to the exports of $17.071 billion of the identical interval of final 12 months, 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 12 months to $34.814 billion of similar interval of present monetary 12 months, it stated.

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