Artificial Jewellary exports dip to 0.959 million

• The exports of artificial Jewellery dipped by 26.96 percent during 1QFY20
• On year-on-year basis also, the artificial Jewellery exports witnessed increase of 143.23 percent.

ISLAMABAD: The exports of artificial Jewellery from the country dipped by 26.96 percent during the first quarter of the current financial year (2019-20) as compared to the corresponding period of last year.

The artificial Jewellery exports from the country during July-September (2019-20) were recorded at $0.959 million against the exports of $1.313 million during July-September (2018-19), showing negative growth of 26.96 percent, according to the Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis also, the artificial Jewellery exports from the country witnessed increase of 143.23 percent in September 2019 as compared to the exports of the same month of the last year.

The artificial Jewellery exports from the country during September 2019 were recorded at $0.467 million against the exports of $0.192 million in September 2018.

On month-on-month basis, the exports of artificial Jewellery grew by 145.79 percent during September 2019 when compared to the exports of $0.190 million in August 2019, the PBS data revealed.

It is pertinent to mention here that the country's merchandise trade deficit plunged by 34.85 percent during the first three 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-September (2019-20) was recorded at $5.727 billion against the deficit of $8.791 billion during July-September (2018-19).

The exports increased from $5.374 billion during last year to $5.522 billion during the current fiscal year, showing growth of 2.75 percent.

On the other hand, the imports into the country witnessed declined of 20.6 percent by falling from $14.165 billion last year to $11.249 billion during the current fiscal year, the data revealed.