Pakistan’s trade deficit widens by 8.27 percent to $14.96 billion in July – January

Pakistan’s trade deficit widens by 8.27 percent to $14.96 billion in July – January

ISLAMABAD: Pakistan trade deficit has widened by 8.27 percent to $14.96 billion during first seven months (July – January) 2020/2021 owing to uptick in import bills after improved economic activities.

The trade deficit widened to $14.96 billion during the first seven months of the current fiscal year as compared with the deficit of $13.82 billion in the corresponding period of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS) on Monday.

Exports of the country registered 5.53 percent increase to $14.24 billion during the first seven months of the current fiscal year as compared with $13.49 billion in the corresponding period of the last fiscal year.

Import bill of the country also posted an increase of 6.92 percent to $29.20 billion during the period under review as compared with $27.31 billion in the same period of the last fiscal year.

The trade deficit Year on Year (YoY) basis widened by 21.03 percent to $2.6 billion in January 2021 as compared with the deficit of $2.15 billion in the corresponding month of the last year. During the period exports increased by 8.11 percent and import grew by 14.85 percent.

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