In the first half of the current financial year (2020-21), furniture exports decreased by 14.53% compared to exports in the same period last year.
During July-December (2020-21), Pakistan exported furniture worth US $ 1,547 million against exports of $ 1,810 million during July-December (2019-20), showing a 14.53 percent decline, according to the Pakistan Bureau of Statistics (PBS).
Meanwhile, on a year-on-year basis, in December 2020, furniture exports decreased by 25.52% compared to exports in the same month last year. Furniture exports were reported at $0.356 million in December 2020, compared to $0.478 million in December 2019.
On a month-on-month basis, furniture exports decreased by 28% in December 2020, compared to exports of $0.271 million in November 2020, according to PBS data.
It should be noted here that, during the first half (H1) of the current fiscal year (2020-21), the country’s merchandise exports increased by 4.98% compared to the same duration last year.
According to the most recent PBS data, exports from the country during July-December (2020-21) were reported at $12,098 billion against exports of $11,524 billion during July-December (2019-20).
Imports to the country have rose by 5.72 percent during the time under review, increasing from $23.195 billion last year to $24.521 billion during the first half of the current fiscal year.
Based on the estimates, during the first half, the country’s trade deficit rose by 6.44 percent compared to the same time last year.
The trade deficit was estimated at $12,423 billion during the first six months of the current fiscal year, compared to a deficit of $11,671 billion last year.