Pakistan’s trade deficit widens by 112% to $20.59 billion

Pakistan’s trade deficit widens by 112% to $20.59 billion

ISLAMABAD: Pakistan’s trade deficit ballooned by 112 per cent to $20.59 billion during the first five months (July – November) of the current fiscal year 2021/2022, according to official data released on Thursday.

The trade deficit was at $9.72 billion in the same months of the last fiscal year, revealed by the data released by the Pakistan Bureau of Statistics (PBS).

Pakistan’s import bill surged by 69.17 per cent to $32.934 billion during July – November 2021/2022 as compared with $19.468 billion in the same period of the last fiscal year.

The exports of the country also exhibited by 26.68 per cent to $12.344 billion during the period under review as compared with $9.744 billion in the corresponding period of the last fiscal year.

The country reported $4.963 billion as trade deficit for the month of November 2021. The trade deficit has swelled by 134 per cent in November 2021 as compared with the deficit of $2.121 billion in the same month of the last year.

The import bill registered a phenomenal growth of 82.83 per cent to $7.847 billion in November 2021 as compared with $4.292 billion in the same month of the last year.

The exports also grew by 33 per cent to $2.884 billion in November 2021 as compared with $2.171 billion in the same month of the last year.

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