Pakistan’s import bill records over $80 bn in 2021/2022

Pakistan’s import bill records over $80 bn in 2021/2022

KARACHI: The total import bill of Pakistan has crossed a record $80 billion mark, showing 42 per cent increase during fiscal year 2021/2022, according to official data released on Tuesday.

The total import bill of the country increased to $80.02 billion during fiscal year 2021/2022 as compared with $58.38 billion in the preceding fiscal year, according to data released by Pakistan Bureau of Statistics (PBS).

READ MORE: Pakistan’s trade deficit balloons $43.33 bn in 11 months

The exports of the country also posted an increase of 25.51 per cent to $31.76 billion during the fiscal year under review as compared with $25.30 billion in the preceding fiscal year.

Pakistan posted a record trade deficit of $48.26 billion in the fiscal year 2021/2022 as compared with the deficit of $31.07 billion in the preceding year, showing an expansion in deficit of 55.29 per cent.

READ MORE: Pakistan’s imports hit record high at $65.47 bn in 10 months

The import bill in June 2021 increased by 14 per cent to $7.72 billion when compared with $6.77 billion in the month of May 2022. It was increased by 21.57 per cent when compared with $6.35 billion in June 2021.

READ MORE: Pakistan’s March trade deficit widens by only 5.5%

The exports posted an increase of 10 per cent to $2.88 billion in June 2022 when compared with $2.63 billion in May 2022. The exports increased by 5.83 per cent when compared $2.73 billion with June 2021.

READ MORE: Pakistan’s trade deficit widens to $32 billion in 8MFY22

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