KARACHI: Pakistan’s trade deficit has narrowed by 13 percent during first 10 months (July – April) 2018/2019 owing to significant fall in import bill, according to trade data released by Pakistan Bureau of Statistics (PBS) on Wednesday.
(more…)Tag: Pakistan Bureau of Statistics
-
Headline inflation increases by 8.8 percent in April 2019
ISLAMABAD: The headline inflation has surged by 8.8 percent on year on year (YoY) in April 2019 as compared to an increase of 9.4 percent in previous month and 3.7 percent in April 2018, said Pakistan Bureau of Statistics (PBS) on Thursday.
The Consumer Price Index (CPI) based inflation on month-on-month basis, it increased by 1.3 percent in April 2019 as compared to an increase of 1.4 percent in the previous month and an increase of 1.8 percent in corresponding month i.e. April 2018.
Core inflation measured by non-food non-energy CPI (Core NFNE) increased by 7.0 percent on (YoY) basis in April 2019 as compared to an increase of 8.5 percent in the previous month and 7.0 percent in April 2018. On (MoM) basis, it increased by 1.0 percent in April 2019 as compared to an increase of 0.5 percent in previous month, and an increase of 2.5 percent in corresponding month of last year i.e. April 2018.
Core inflation, measured by 20 percent weighted trimmed mean CPI (Core Trimmed) increased by 7.2 percent on (YoY) basis in April 2019 as compared to 7.9 percent in the previous month and by 5.0 percent in April 2018. On (MoM) basis, it increased by 0.9 percent in April 2019 as compared to an increase of 0.4 percent in the previous month and an increase of 1.6 percent in corresponding month of last year i.e. April 2018.
The Sensitive Price Indicator (SPI) inflation on YoY basis increased by 9.3 percent in April 2019 as compared to an increase of 8.8 percent a month earlier and a decrease of 0.5 percent in April 2018.
On MoM basis, it increased by 0.9 percent as compared to an increase of 1.6 percent in the previous month and an increase of 0.4 percent in corresponding month of last year i.e. April 2018.
Wholesale Price Index (WPI) inflation on YoY basis increased by 13.8 percent in April 2019 as compared to an increase of 12.6 percent a month earlier and an increase of 4.0 percent in April 2018.
WPI inflation on MoM basis increased by 2.3 percent in April 2019 as compared to an increase of 1.7 percent a month earlier and an increase of 1.3 percent in corresponding month of last year i.e. April 2018.
-
Inflation increases by 17.15pc for higher income group
KARACHI: The prices of essential items has increased by 17.15 percent for higher income group above Rs35,000, according to weekly Sensitive Price Indicator (SPI) issued by Pakistan Bureau of Statistics (PBS).
The PBS said that the inflation of the income group above Rs35,000 was increased by 17.15 percent by week ended April 25, 2019 as compared with same week a year ago.
The PBS computes the weekly SPI with base 2007-08=100 covering 17 urban centres and 53 essential items for all income groups/quintiles and combined.
The PBS calculates SPI for income groups included Rs8,000; between Rs8,001 – Rs12,000; Rs12,001-Rs18,000; Rs18,001-Rs35,000; and above Rs35,000. The average inflation for all income group increased by 12.91 percent by week ended April 25, 2018 as compared with corresponding week last year. However, the average inflation increased by 0.37 percent over the previous week ended Aril 18, 2019.
During the week under review as compared with previous week, around 20 items registered increase in their prices. Some of these items are included: tomatoes, onions, potatoes, egg hen, bananas, pulse moong, sugar, pulse mash, garlic, pulse gram, tea prepared, mutton etc.
However, 10 items registered decline in their prices during the week, which included: chicken farm, LPG cylinder 11-kg, wheat, wheat flour, firewood, red chillie, cooking oil, vegetable ghee etc.
Average prices of 22 items remained unchanged during the week under review.
According to PBS the SPI was increasing for the last four consecutive weeks. The SPI is major component for headline inflation i.e. Consumer Price Index (CPI). The movement of SPI sets the monthly CPI.
-
Car import plunges by 80 percent on payment in foreign exchange condition
KARACHI: The import of completely built unit (CBU) cars has sharply declined by 80 percent in March 2019 owing to mandatory requirement of paying duty and taxes through foreign exchange.
According to Pakistan Bureau of Statistics (PBS) the import of motor cars fell 80 percent to $6.14 million in March 2019 when compared with $30.5 million in the same month of last year.
It is worth mentioning here that the ministry of commerce issued SRO 52(I)/2019 dated January 15, 2019 which stated that all vehicles in new/used condition to be imported under transfer of residence, personal baggage or under gift scheme, the duty and taxes shall be paid out of foreign exchange arranged by Pakistani nationals themselves or local recipient supported by bank enchashment certificate showing conversion of foreign remittances to local currency.
The payment through foreign exchange should be:
a. The remittance for payment of duties and taxes shall originate from the account of Pakistani national sending the vehicle from abroad; and
b. The remittance shall either be received in the account of the Pakistani national sending the vehicle from abroad or, in case, his account is non-existent or inoperative, in the account of his family.
The import data of motor vehicles issued by Pakistan Bureau of Statistics (PBS) revealed that motor cars worth $209 million were brought into the country during July – March 2018/2019 as compared with $359.56 million in the same period of the last fiscal year.
The car import also fell due restrictions on non-filers for registering the imported vehicles.
-
Essential items’ prices inflate for three consecutive weeks in April
The prices of essential commodities have risen for the third consecutive week this month, signaling high headline inflation for April 2019. According to data released by the Pakistan Bureau of Statistics (PBS), the Sensitive Price Indicator (SPI) has consistently increased in the weeks ending April 4, 11, and 18, reflecting a challenging trend for consumers.
(more…) -
Sensitive price inflation grows by 12.02 percent
KARACHI: The prices of essential items have registered 12.02 percent growth by week ended April 11, 2019 as compared with corresponding week last year, according to data released by Pakistan Bureau of Statistics (PBS) on Monday.
The Sensitive Price Indicator (SPI) based inflation has shown the increase with the average inflation for all income groups.
The weekly data revealed that the inflation grew by 16.31 percent for income group above Rs35,000. While the SPI based inflation grew by 12.89 percent for the income group range between Rs18,001 – Rs35,000.
Meanwhile, the inflation increased by 8.9 percent, 9.07 percent and 8.97 percent for income group up to Rs8,000, Rs8,001-Rs12.000 and Rs12,001 – Rs18,000, respectively.
The PBS calculates the weekly SPI with base 2007-08=100 covering 17 urban centres and 53 essential items for all income groups/quintiles and combined has been computed.
-
Trade deficit contracts by 13.02 percent to $23.67 billion in nine months
ISLAMABAD: Pakistan’s trade deficit has contracted by 13.02 percent during first nine months (July – March) 2018/2019 due to significant decline in import bill in the same period, according to trade data released by Pakistan Bureau of Statistics (PBS) on Wednesday.
The trade deficit shrank to $23.67 billion during first nine months of current fiscal year as compared with the deficit of $27.21 billion in the corresponding period of the last fiscal year.
The import bill during the first nine months was declined by 8 percent to $40.75 billion as compared with $44.28 billion in the same period of the last fiscal year.
Experts said that the imposition of regulatory duty on luxury and non-essential items during the last budget and followed in the supplementary budget helped in curtailing import growth.
However, growth in exports was remained flat. The exports were at $17.08 billion during the period under review as compared with $17.06 billion in the same period of the last fiscal year.
The import bill sharply declined by 21 percent in the month of March 2019 to $4.15 billion as compared with $5.25 billion in the same month of the last fiscal year.
On the other hand the exports also fell by 11.13 percent in the month under review. The exports exhibited decline of 11.13 percent decline to $1.98 billion in March 2019 as compared with $2.28 billion in the same month of last year.
The reduction in import bill in March 2019 resulted in narrowed trade deficit for the month. The trade deficit was contracted by 28.07 percent to $2.17 billion in March 2019 as compared with $3.02 billion in March 2018.
-
Headline inflation increases by 9.4pc in March
ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) has increased by 9.4 percent on year-on-year basis in March, 2019 as compared to an increase of 8.2 percent in the previous month and 3.2 percent in March 2018.
The Pakistan Bureau of Statistics (PBS) on Monday said that on month-on-month basis, it increased by 1.4 percent in March 2019 as compared to an increase of 0.6 percent in the previous month and an increase of 0.3 percent in corresponding month i.e. March 2018.
Core inflation measured by non-food non-energy CPI (Core NFNE) increased by 8.5 percent on (YoY) basis in March 2019 as compared to an increase of 8.8 percent in the previous month and 5.8 percent in March 2018.
On (MoM) basis, it increased by 0.5 percent in March 2019 as compared to an increase of 0.2 percent in previous month, and an increase of 0.7 percent in corresponding month of last year i.e. March 2018.
Core inflation, measured by 20 percent weighted trimmed mean CPI (Core Trimmed) increased by 7.9 percent on (YoY) basis in March 2019 as compared to 7.7 percent in the previous month and by 4.1 percent in March 2018. On (MoM) basis, it increased by 0.4 percent in March 2019 as compared to an increase of 0.2 percent in the previous month and an increase of 0.2 percent in corresponding month of last year i.e. March 2018.
Sensitive Price Indicator (SPI) inflation on YoY basis increased by 8.8 percent in March 2019 as compared to an increase of 6.5 percent a month earlier and a decrease of 1.8 percent in March 2018.
On MoM basis, it increased by 1.6 percent as compared to an increase of 1.5 percent in the previous month and a decrease of 0.6 percent in corresponding month of last year i.e. March 2018.
Wholesale Price Index (WPI) inflation on YoY basis increased by 12.6 percent in March 2019 as compared to an increase of 11.0 percent a month earlier and an increase of 3.6 percent in March 2018.
WPI inflation on MoM basis increased by 1.7 percent in March 2019 as compared to an increase of 0.9 percent a month earlier and an increase of 0.2 percent in corresponding month of last year i.e. March 2018.
-
Mobile phones import down by 22.15 percent on mandatory registration
KARACHI: The import of mobile phones has declined by 22.15 percent in February 2019 following imposition of mandatory registration with regulatory authority, said Pakistan Bureau of Statistics (PBS) on Saturday.
The import of cellular phones reduced to $54.32 million in February 2019 when compared with $69.78 million in the same month of the last year.
It is pertinent to mention here that cell phone registered with Pakistan Telecommunication Authority (PTA) will be activated in the country.
This mandatory requirement has stopped influx of all unregistered phones into the country and resulted in saving precious foreign exchange.
The overall imports of cell phones during July – February 2018/2019 also showing decline of 9.11 percent to $478.13 million as compared with $526.03 million in the corresponding period of the last fiscal year.
Industry experts said that the rupee depreciation had discouraged the imports.
They also said that in the latest mini-budget the measures taken by the government would further discourage import of luxury cell phones.
The government revised upward the regime of duty and taxes for import of mobile phones into the country.
Related Stories
FBR imposes regulatory duty up to Rs18,500 per mobile phone
Pakistan imports mobile phones worth Rs55 billion in seven months
-
Trade deficit narrows by 11 percent in eight months
ISLAMABAD: The trade deficit has narrowed by 11 percent during first eight months of current fiscal year owing decline in import bill, Pakistan Bureau of Statistics (PBS) said on Tuesday.
The trade deficit shrank to $21.52 billion during July – February 2018/2019 as compared with the deficit of $24.19 billion in the corresponding period of the last fiscal year.
The import bill of the country was declined by 6.13 percent to $36.63 billion during first eight months of current fiscal year as compared with $39.03 billion in the same period of the last fiscal year.
However, exports posted growth of 2 percent to $15.11 billion during the period under review as compared with $14.83 billion in the corresponding period of the last fiscal year.
Experts said that the import bill of the country declined owing to several restrictions imposed by the government including condition of advance payment and regulatory duty on luxury and non-essential items.
On the other side exports failed to reflect the incentives granted to manufacturing and export sector by the government.
The trade deficit reduced sharply in February 2019 to $2.29 billion from the deficit of $2.86 billion in February 2018, showing decline of 20.12 percent.
In the same period imports fell by 12.26 percent to $4.18 billion as compared with $4.76 billion in February 2018.
The export growth was flat during the month to $1.88 billion as compared with $1.89 billion.
Related Stories: Pakistan’s import bill declines by 19.14pc in January