Pakistan witnessed an increase of 7.39 percent in cutlery exports during the first six months of FY20
Pakistan was the third-largest exporter of cutlery products with a share of 5.8%
Pakistan’s cutlery exports were reported to have increased by 7.39 percent during the first six months of 2019.
The comparison was made with last year’s exports as Pakistan exported cutlery worth $47.415 million during July-December (2019-20) while it exported $44.154 million during July-December of 2018-19.
Growth of 7.39 percent:
The one-year analysis conducted by the Pakistan Bureau of Statistics (PBS) has showed an increase of 7.39 percent in culinary exports.
However, the cutlery exports during December 2019 were recorded at $7.404 million against the exports of $7.945 million in December 2018.
Pakistan’s merchandise trade deficit has jumped by 33.67 percent during the first six months of 2019-20.
The largest exporter of these cutlery products in the world is China, with a 52% share of the world market and exports of US$ 504 million. The second-largest exporter is Germany, with a share of 10.2% in the world market. Pakistan was the third-largest exporter with a share of 5.8%.
The Cutlery sector consists of small-scale enterprises located around Wazirabad. The industry itself is small but efficient and relies on inputs and services of the following sectors: steel, wood, leather, casings, and machine vendors.
Pakistan has seen imports into the country decline by 17.13 percent by falling from $ 27.952 billion last year to $23.163 billion during the current year.