The import of plastic materials has decreased by 7.9 per cent in the past 8 months of the present fiscal year that is of 2019-2020, in comparison to the same period of the last year.
Pakistan has imported plastic materials worth $1,326.052 million during the month of July-February FY20 in comparison to the imports of $1,440.492 million during the span of July-February FY19, as per the date released by the Pakistan Bureau of Statistics (PBS).
Regarding the quantity, the import of plastic materials has witnessed a surge of 7.23 per cent as the country has imported 1,059,006 metric tonnes of plastic during the span under review in comparison to the imports of 987,612 metric tonnes during the same period of the last financial year.
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In the meantime, on an annual basis, plastic imports into the nation during February 2020 experienced a surge of 6.53 per cent in comparison to the imports of the same month of the last year.
The plastic imports during the month under consideration were recorded at $202.790 million as against the imports of $190.354 million during the month of February 2019.
On a monthly basis, plastic imports during the month of February 2020 has also surged by 15.54 per cent in comparison to the imports of $175.518 million in the month of January 2020.
It is important to mention that the merchandise trade deficit of the nation has surged by 26.45 per cent during the first 9 months of the present financial year as compared to the corresponding month of the last year.
During the period under consideration, the exports of the country registered nearly 2.23 per cent growth, whereas the imports has decreased by 14.42 per cent.