Plastic export increased by 32.8% to $428.424 million in FY22

Plastic export

The country’s plastic material export reported an increase of 32.76 percent during the twelve months of the financial year 2021-22 when compared to the same period of the previous year. 

According to the Pakistan Bureau of Statistics (PBS), Pakistan exported plastic material costing $428.424 million in July-June (2021-22) as compared to the export of $322.709 million during July-June (2020-21), presenting a growth of 32.76 percent. 

With regard to quantity, the plastic export however declined by 16.89 percent, from 299,104 metric tons to 248,581 metric tons, the data unveiled. 

Moreover, on a year-on-year basis, the export of plastic material also showed a declining trend of 17.24 percent during the month of June 2022 when compared to the same month of last year. 

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The exports of plastic material in June 2022 were registered at US $42.781 million as compared to the export of $51.695 million in June 2021, the PBS data added. 

Meanwhile, on a month-on-month basis, the exports of plastic dropped by 9.08 percent in June 2022 when compared to $47.056 million in May 2022. 

It is worth mentioning here that the country’s total merchandise exports rose by 25.64 percent during the financial year under review. 

The PBS data further unveiled that during July-June (2021-22), the merchandise exports were reported at $31.792 billion when compared to the exports of $25.304 billion during July- June (2020-21). 

In contrast, the merchandise imports hiked up by 42.21 percent from $56.380 billion a year ago to $80.177 billion during the period under review. 

Furthermore, the country’s exports to regional countries also showed a growth of 18.26 percent during the first eleven months of the financial year (2021-22), against the same period of last year (11MFY21). 

Pakistan’s exports to seven regional countries comprising Afghanistan, Bangladesh, China, India, Sri Lanka, Nepal, and the Maldives total $4172.741 million, making 14.22 percent of the country’s total exports of $29333.048 million during July-May (2021-22), the State Bank of Pakistan (SBP) released the data. 

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