Furniture exports up 16.31pc

Furnitureindustrypossessesimmensegrowthpotential_11643

Exports of furniture from the country increased by 16.31 per cent during July 2014 compared to the same months of last year.

The country earned $0.770 million from the exports of furniture compared to the $0.662 million in July 2013, according to data of Pakistan Bureau of Statistics (PBS).

On month-on-month basis, the exports of furniture increased by 8.30 per cent in July 2014 when compared to the exports of $771 in June 2014, the data revealed.

It is pertinent to mention here that country’s trade deficit narrowed by 16.58 per cent during the first month of the ongoing fiscal year (2014-15) compared to the same month of last year, mainly owing to decline in imports into the country. The imports into the country decreased by 11.80 per cent in July 2014 compared to the imports of July 2013.

The imports into the country were recorded at $3.364 billion in July 2014 compared to the imports of $3.814 billion in July 2013, the PBS data revealed.

Exports from the country, however, also decreased by 7.88 per cent by going down from $2.095 billion in July 2013 to $1.930 billion in July 2014. Based on the figures, the overall trade deficit in July 2014 was recorded at $1.434 billion compared to the deficit of $1.719 showing a deficit of 16.58 per cent.



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