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Tag: Pakistan Bureau of Statistics

  • Headline inflation contracts in March to 10.2pc

    Headline inflation contracts in March to 10.2pc

    ISLAMABAD: The headline inflation has contracted to 10.2 percent in March 2020 as compared with inflation in the previous month.

    Pakistan Bureau of Statistics (PBS) on Wednesday said that Consumer Price Index (CPI) inflation increased by 10.2 percent on year-on-year basis in March 2020 as compared to an increase of 12.4 percent in the previous month and 8.6 percent in March 2019.

    On month-on-month basis, it increased by 0.04 percent in March 2020 as compared to a decrease of 1.0 percent in the previous month and an increase of 2.0 percent in March 2019.

    The CPI inflation in urban areas increased by 9.3 percent on year-on-year basis in March 2020 as compared to an increase of 11.2 percent in the previous month and 8.9 percent in March 2019.

    On month-on-month basis, it increased by 0.1 percent in March 2020 as compared to a decrease of 1.1 percent in the previous month and an increase of 1.9 percent in March 2019.

    CPI inflation in rural areas increased by 11.7 percent on year-on-year basis in March 2020 as compared to an increase of 14.2 percent in the previous month and 8.2 percent in March 2019.

    On month-on-month basis, it decreased by 0.1 percent in March 2020 as compared to a decrease of 1.0 percent in the previous month and an increase of 2.2 percent in March 2019.

    Sensitive Price Index (SPI) based inflation on YoY increased by 11.8 percent in March 2020 as compared to an increase of 14.5 percent a month earlier and an increase of 10.5 percent in March 2019. On MoM basis, it decreased by 0.3 percent in March 2020 as compared to a decrease of 0.8 percent a month earlier and an increase of 2.1 percent in March 2019.

    Wholesale Price Indicator (WPI) inflation on YoY basis increased by 9.2 percent in March 2020 as compared to an increase of 12.6 percent a month earlier and an increase of 16.6 percent in March 2019.

    WPI inflation on MoM basis it decreased by 0.9 percent in March 2020 as compared to a decrease of 0.8 percent a month earlier and an increase of 2.2 percent in corresponding month of last year i.e. March 2019.

  • Trade deficit narrows by 26.52% in July – February

    Trade deficit narrows by 26.52% in July – February

    ISLAMABAD: The trade deficit has narrowed by 26.52 percent in first eight months (July – February) 2019/2020 owing to fall in import bill.

    The trade deficit reduced to $15.773 billion during first eight months of current fiscal year as compared with the deficit of $21.467 billion in the corresponding months of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS) on Wednesday.

    The import bill significantly reduced by 14.06 percent during the period. The import bill of the country was at $31.42 billion during July – February 2019/2020 as compared with $36.563 billion in the corresponding period of the last fiscal year.

    The exports of the country also increased by 3.65 percent during the period under review. The exports grew to $15.648 billion during first eight months of current fiscal year as compared with $15.097 billion in the same period of the last fiscal year.

    The exports however increased by 13.82 percent to $2.14 billion in February 2020 as compared with $1.88 billion in the same month of the last year.

    The imports in February 2020 fell by 1.71 percent to $4.073 billion as compared with $4.144 billion in the same month of the last year.

    The trade deficit for the month of February 2020 was at reduced by 14.61 percent to $1.93 billion as compared with the deficit of $2.263 billion in the same month of the last year.

  • Headline inflation growth slows in February 2020

    Headline inflation growth slows in February 2020

    ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) has contracted at 12.4 percent in February 2020 as compared with 14.6 percent in January 2020.

    According Pakistan Bureau of Statistics (PBS), the headline inflation base-year 2015-16 increased by 12.4 percent on year-on-year basis in February2020 as compared to an increase of14.6 percent in the previous month and 6.8 percent in February2019.

    On month-on-month basis, it decreased by 1.0 percent in February 2020 as compared to an increase of 2.0 percent in the previous month and an increase of 0.9 percent in February2019.2.

    The CPI inflation Urban increased by 11.2 percent on year-on-year basis in February2020 as compared to an increase of 13.4 percent in the previous month and 7.2 percent in February 2019.

    On month-on-month basis, it decreased by 1.1 percent in February 2020 as compared to an increase of 1.7 percent in the previous month and an increase of 0.9 percent in February2019.

    CPI inflation Rural increased by 14.2 percent on year-on-year basis in February 2020 as compared to an increase of 16.3 percent in the previous month and 6.0 percent in February 2019.

    On month-on-month basis, it decreased by 1.0 percent in February 2020 as compared to an increase of 2.4 percent in the previous month and an increase of 0.9 percent in February2019.

    SPI inflation on YoY increased by14.5 percent in February2020 as compared to an increase of 18.3 percent a month earlier and an increase of 7.2 percent in February2019.

    On MoM basis, it decreased by 0.8 percent in February2020 as compared to an increase of 0.5 percent a month earlier and an increase of 2.4 percent in February2019.

    WPI inflation on YoY basis increased by 12.6 percent in February2020as compared to an increase of 15.4 percent a month earlier and an increase of 13.9 percent in February2019.

    WPI inflation on MoM basis it decreased by 0.8 percent in February 2020 as compared to an increase of 1.8 percent a month earlier and an increase of 1.6 percent in corresponding month of last year i.e. February 2019.

  • Mobile phone import climbs up by 79.46% in seven months

    Mobile phone import climbs up by 79.46% in seven months

    KARACHI: The import of mobile phones has surged by 79.46 percent during first seven months (July – January) of current fiscal year owing to reduction in tax rate by the government to promote digital economy.

    The import of mobile phones increased to $760.58 million during first seven months of current fiscal year as compared with $423.82 million in the corresponding months of the last fiscal year, according to import data released by Pakistan Bureau of Statistics (PBS).

    The government announced Tax Laws (Second Amendment) Ordinance, 2019 on December 28, 2019 through presidential order.

    Prior to the promulgation of the Tax Laws (Second Amendment) Ordinance,2019 the rate of withholding income tax on the import of mobile phones was Rs.730 in case of a mobile phones having value exceeding 30 UD dollars and up to 100 US Dollars.

    In order to complement the efforts of the government towards promotion of financial inclusion, e-commerce etc, income tax at the import stage in respect of mobile phones having value exceeding 30US dollars and up to 100US dollars has been reduced from Rs.730 to Rs.100 per mobile phone.

  • Import of used cars plunges by 77% in seven months

    Import of used cars plunges by 77% in seven months

    KARACHI: The import of used and old cars plunged by 77 percent during first seven months (July-January) of 2019/2020 due to condition of payment of duty and taxes through foreign exchange imposed by the government.

    The import of used and old cars in Completely Built Unit (CBU) condition fell by 77 percent to $43.64 million during July – January 2019/2020 as compared with $193.43 million in the corresponding period of the last year, according data released by Pakistan Bureau of Statistics (PBS) on Monday.

    The commercial import of used or old cars is not allowed under prevailing laws of the country. However, in order to facilitate expatriate Pakistanis the government allows incentives to bring cars into the country.

    The Federal Board of Revenue (FBR) has allowed Pakistani nationals residing abroad including dual nationals can import old and used vehicles into Pakistan under these schemes: Personal Baggage; Gift Scheme; and Transfer of Residence.

    The cars not older than three years and other vehicles not older than five years can be imported under these schemes.

    In the past these schemes were grossly misused and bulk of imported cars brought into the country.

    However, the ministry of commerce in February 2019 amended Import Policy Order, 2016 and made it mandatory for clearance of cars through foreign exchange, which should be certified by banks.

    Since then the clearance of the cars has come to a standstill. Customs authorities said that a large number of imported cars were at the port but importer had failed to make payment as per procedure prescribed by the ministry of commerce.

    However, in November 2019 Economic Coordination Committee (ECC) decided to allow payment for duty and taxes for customs clearance of imported cars through local resources with condition that if foreign exchange becomes short due to currency fluctuations or change in duty and tax rates.

    The overall import of Completely Built Unit (CBU) vehicles during first seven months of current fiscal year fell 71 percent. The import of heavy vehicles including buses and trucks has declined by 59 percent. While import of CBU motorcycles fell by 74 percent.

    On the other hand the import of cars as Completely Knocked Down (CKD) condition also fell by 46.46 percent to $261 million during July – January 2019/2020 as compared with $487.6 million in the same period of the last fiscal year.

    Industry sources said that massive depreciation in the local currency during past couple of years had increased the cost of local car manufacturers.

    Further, the rates of locally assembled cars for end consumers also jumped up sharply.

    These factors have reduced the productions of locally manufactured cars and subsequently reduced the import of cars in CKD condition.
    The overall import of vehicles in CKD fell by 45.58 percent to $417.2 million during first seven months of 2019/2020 as compared with $766.54 million in the corresponding period of the last fiscal year.

  • Textile exports increase by 3.68% in seven months

    Textile exports increase by 3.68% in seven months

    KARACHI: The exports of textile products have recorded increase of 3.68 percent during first seven months (July – January) 2019/2020 on the back of improvement in readymade garments and knitwear.

    The exports of textile group were at $8.1 billion during first seven months of current fiscal year as compared with 7.81 billion in the corresponding period of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS) on Monday.

    The textile sector was facing several issues pertaining to fuel prices and payment of tax refunds.

    On the other hand the government allowed many incentives to export sector for encouraging the exporters. The government allowed zero rated of sales tax which is only available to the exporters.

    The exports of readymade garments recorded 11 percent increase during the period under review. The exports readymade garments increased to $1.68 billion during first seven months of the current fiscal year as compared with $1.516 billion in the same period of the last fiscal year.

    The exports of knitwear recorded 6.27 percent increase to $1.83 billion during July – January 2019/2020 as compared with $1.72 billion in the corresponding period of the last fiscal year.

    The exports of bed wear recorded 2.77 percent growth to $1.39 billion during first seven months of the current fiscal year as compared with $1.35 billion in the same period of the last fiscal year.

    However, the exports of cotton cloths fell by 3.62 percent to $1.19 billion during the period under review as compared with $1.23 billion in the corresponding period of the last fiscal year.

    The exports of towels registered nominal decline to $444 million during first seven months of the current fiscal year as compared with $446.45 million in the corresponding period of the last fiscal year.

    The export of cotton yarn was also registered flat growth to $640 million during first seven months of the current fiscal year as compared with $635 million in the same period of the last fiscal year.

  • PBS rules out fudging in inflation figures

    PBS rules out fudging in inflation figures

    ISLAMABAD – The Pakistan Bureau of Statistics (PBS) categorically rejected allegations of fudging in inflation figures, addressing concerns raised in some sections of the electronic and print media.

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  • Sensitive price inflation increases by 17.58pc

    Sensitive price inflation increases by 17.58pc

    KARACHI: The prices of essential items have registered 17.58 percent increase by week ended February 06, 2020 when compared with corresponding week last year, according to data released by Pakistan Bureau of Statistics (PBS).

    According to the data the combined Sensitive Price Indicator (SPI) increased by 17.58 percent by week ended February 06, 2020 as compared with the week ended February 07, 2019.

    As per the data the highest inflation for the period under review was recorded at 19.99 percent for the expenditure group ranging between Rs22.889 and Rs29.517.

    While the SPI was recorded at 16.18 percent for the period for expenditure group up to Rs17,732.

    The PBS computes the weekly SPI with base 2015-16= 100 covering 17 urban centers and 51 essential items for all expenditure groups.

  • Trade deficit narrows by 28.4% in July – January

    Trade deficit narrows by 28.4% in July – January

    KARACHI: Pakistan’s trade deficit narrowed sharply by 28.40 percent during first seven months (July – January) 2019/2020 owing to significant decline in import bill.

    According to trade data released by Pakistan Bureau of Statistics (PBS), the trade deficit shrank to $13.75 billion during first seven months of the current fiscal year as compared with $19.2 billion in the corresponding months of the last fiscal year.

    The reduction in trade deficit mainly attributed to fall in import bill. The import bill fell by 16 percent to $27.25 billion during July – January 2019/2020 as compared with $32.42 billion in the corresponding period of the last fiscal year.

    The exports of the country posted 2.14 percent growth to $13.5 billion during first seven months of current fiscal year as compared with $13.22 billion in the same period of the last fiscal year.

    The exports have come down by 3.17 percent when compared with $1.97 billion in January 2020 when compared with $2.04 billion in the same month of the last year.

    In the month of January 2020 the imports also came down by 9.63 percent to $4.04 billion as compared with $4.46 billion in the same month of the last year.

    However, the growth in imports was flat at $4.04 billion in January 2020 as the imports were at the same level in December 2019.

    The exports also fell 1.15 percent to $1.94 billion in January 2020 when compared with $1.99 billion in the month of December 2019.

  • Headline inflation increases by 14.6% in January 2020

    Headline inflation increases by 14.6% in January 2020

    Pakistan is grappling with a significant surge in inflation as the Consumer Price Index (CPI) recorded a staggering 14.6 percent increase on a year-on-year (YoY) basis in January 2020.

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