Tag: PBS

  • Headline inflation increases by 8.2pc in August

    Headline inflation increases by 8.2pc in August

    ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) increased by 8.2 percent on Year on Year (YoY) basis in August 2020 as compared to an increase in 9.3 percent in the previous month, Pakistan Bureau of Statistics (PBS) said on Tuesday.

    The inflation was also lower than 10.5 percent recorded in August 2019.

    On month-on-month (MoM) basis, it increased by 0.6 percent in August 2020 as compared to an increase of 2.5 percent in the previous month and an increase of 1.6 percent in August 2019.

    CPI inflation Urban, increased by 7.1 percent on year-on-year basis in August 2020 as compared to an increase of 7.8 percent in the previous month and 10.6 percent in August 2019.

    On month-on-month basis, it increased by 0.8 percent in August 2020 as compared to an increase of 2.2 percent in the previous month and an increase of 1.5 percent in August 2019.

    CPI inflation Rural, increased by 9.9 percent on year-on-year basis in August 2020 as compared to an increase of 11.6 percent in the previous month and 10.3 percent in August 2019. On month-on-month basis, it increased by 0.4  percent in August 2020 as compared to an increase of 3.0 percent in the previous month and an increase of 1.9 percent in August 2019.

    The inflation based on Sensitive Price Indicator (SPI) on YoY increased by 11.7 percent in August 2020 as compared to an increase of 13.7 percent a month earlier and an increase of 12.1 percent in August 2019. On MoM basis, it increased by 0.9 percent in August 2020 as compared to an increase of 3.0 percent a month earlier and an increase of 2.7 percent in August 2019.

    Wholesale Price Index (WPI) inflation on YoY basis increased by 3.3 percent in August 2020 as compared to an increase of 3.2 percent a month earlier and an increase of 14.1 percent in August 2019.

    WPI inflation on MoM basis increased by 1.3 percent in August 2020 as compared to a decrease of 5.4 percent a month earlier and an increase of 1.2 percent in corresponding month of last year i.e. August 2019.

  • Inflation increases more for persons with lower buying power

    Inflation increases more for persons with lower buying power

    ISLAMABAD: Persons with lower buying power have witnessed sharp increase in inflation for week ended August 20, 2020 as compared with the same week a year ago.

    According to data of Sensitive Price Indicator (SPI) issued by Pakistan Bureau of Statistics (PBS), the inflation increased more for persons having less buying powers and the inflation is lower for those persons have sufficient money to buy essential items.

    The PBS categorized five expenditure groups to assess the price movement of essential items on weekly basis.

    The data shows the trend of inflation amongst the expenditure groups as:

    For expenditure group up to Rs17,732: inflation increased by 11.49 percent by the week ended August 20, 2020 when compared with week ended August 22, 2019.

    For expenditure group between Rs17,733 and Rs22,888: inflation increased by 11.22 percent by the week ended August 20, 2020 when compared with week ended August 22, 2019.

    For expenditure group between Rs22,889 and Rs29,517: inflation increased by 10.05 percent by the week ended August 20, 2020 when compared with week ended August 22, 2019.

    For expenditure group between Rs29,518 and Rs44,175: inflation increased by 9.20 percent by the week ended August 20, 2020 when compared with week ended August 22, 2019.

    For expenditure group above Rs44,175: inflation increased by 6.98 percent by the week ended August 20, 2020 when compared with week ended August 22, 2019.

  • Mobile phones worth Rs24.7 billion imported in July 2020

    Mobile phones worth Rs24.7 billion imported in July 2020

    KARACHI: The country has imported mobile phones worth Rs24.7 billion in the month of July 2020, which is almost double than the import value in the same month of the last year, official data revealed.

    According to data released by Pakistan Bureau of Statistics (PBS) on Wednesday the import of mobile phone increased by 98 percent as the country imported mobile phone worth Rs12.42 billion in the same month of the last year.

    The import value in US dollar term was $148 million in July 2020 as compared with $78.29 million in the corresponding month of the last year, showing an increase of 89 percent.

    Market sources attributed the rise in import of mobile phones to huge demand during lockdown and after ease in lockdown due to rising financial transactions through mobile phones.

    They also attributed the significant growth in rupee term due to depreciation of local currency. The average exchange rate in July 2020 was at Rs166.76 to the dollar as compared with Rs158.82 to the dollar in July 2019.

    Further, the market sources said that the government has provided relief through duty and taxes on import of mobile phones to promote financial inclusion.

  • Exports surge by 25 percent: PBS

    Exports surge by 25 percent: PBS

    ISLAMABAD: The exports of the country increased by 25 percent in July 2020 as compared with the previous month owing to enhance in economic activities after ease in lockdown, according to data released by Pakistan Bureau of Statistics (PBS) on Wednesday.

    The country’s exports were at $2 billion in July 2020 as compared with $1.59 billion in June 2020.

    The rise in exports may be attributed to ease in lockdown and resumption of economic activities during July 2020. The lockdown was imposed since March 2020 to prevent the spread of coronavirus.

    The import bill during July 2020 fell by 2 percent to $3.64 billion as compared with $3.72 billion in June 2020.

    The trade deficit shrank by 22.64 percent to $1.64 billion in July 2020 as compared with deficit of $2.12 billion in June 2020.

    The exports in July 2020 registered an increase of 6.04 percent when compared with $1.88 billion in July 2019.

    The import bill in July 2020 fell by 2 percent when compared with $3.7 billion in July 2019.

    The trade deficit reduced by 10.24 percent in July 2020 when compared with deficit of $1.82 billion in July 2019.

  • Headline inflation grows by 9.3pc in July

    Headline inflation grows by 9.3pc in July

    ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) has increased by 9.3 percent on Year-on-Year (YoY) basis in July 2020, according to data released by Pakistan Bureau of Statistics (PBS) on Monday.

    The latest increase was compared to an increase of 8.6 percent in the previous month and 8.4 percent in July 2019.

    On month-on-month (MoM) basis, it increased by 2.5 percent in July 2020 as compared to an increase of 0.8 percent in the previous month and an increase of 1.8 percent in July 2019.

    CPI inflation Urban, increased by 7.8 percent on year-on-year basis in July 2020 as compared to an increase of 7.6 percent in the previous month and 8.7 percent in July 2019.

    On month-on-month basis, it increased by 2.2 percent in July 2020 as compared to an increase of 0.7 percent in the previous month and an increase of 2.0 percent in July 2019.

    CPI inflation Rural, increased by 11.5 percent on year-on-year basis in July 2020 as compared to an increase of 10.0 percent in the previous month and 7.9 percent in July 2019.

    On month-on-month basis, it increased by 2.9 percent in July 2020 as compared to an increase of 1.0 percent in the previous month and an increase of 1.6 percent in July 2019.

    Sensitive Price Indicator (SPI) inflation on YoY increased by 13.5 percent in July 2020 as compared to an increase of 11.5 percent a month earlier and an increase of 8.9 percent in July 2019.

    On MoM basis, it increased by 2.8 percent in July 2020 as compared to an increase of 1.4 percent a month earlier and an increase of 1.0 percent in July 2019.

    Wholesale Price Indicator (WPI) inflation on YoY basis increased by 3.2 percent in July 2020 as compared to an increase of 0.9 percent a month earlier and an increase of 13.3 percent in July 2019.

    WPI inflation on MoM basis increased by 5.4 percent in July 2020 as compared to a decrease of 0.3 percent a month earlier and an increase of 3.1 percent in corresponding month of last year i.e. July 2019.

  • Pakistan’s oil, gas import bill plunges by 28 percent in FY20

    Pakistan’s oil, gas import bill plunges by 28 percent in FY20

    ISLAMABAD: Country’s import of oil and gas fell sharply by 28 percent during fiscal year 2019/2020 owing to significant decline in international prices.

    The import of petroleum group has decline to $10.42 billion during fiscal year 2019/2020 as compared with $14.44 billion in the preceding fiscal year, according to data released by Pakistan Bureau of Statistics (PBS).

    Industry sources explained that the slump had been observed in terms of value due to significant decline in international oil prices.

    During the year the international oil prices were remained lower due to conflict between Russia and Saudi Arabia.

    The Russia–Saudi Arabia oil price war of 2020 is an economic war triggered in March 2020 by Saudi Arabia in response to Russia’s refusal to reduce oil production in order to keep prices for oil at moderate level. This economic conflict resulted in a sheer drop of oil price over the spring of 2020.

    Reportedly, on March 08, 2020, Saudi Arabia initiated a price war with Russia, facilitating a 65 percent quarterly fall in the price of oil.

    Unofficial reports suggested that in the first few weeks of March, US oil prices fell by 34 percent, crude oil fell by 26 percent, and Brent oil fell by 24 percent.

    The price war was triggered by a break-up in dialogue between the Organization of the Petroleum Exporting Countries (OPEC) and Russia over proposed oil-production cuts in the midst of the COVID-19 pandemic. Russia walked out of the agreement, leading to the fall of the OPEC+ alliance.

    Oil prices had already fallen 30 percent since the start of the year due to a drop in demand. The price war is one of the major causes and effects of the currently ongoing global stock-market crash.

    Pakistan’s import of retail petroleum products fell by 24.54 percent to $4.74 billion during fiscal year 2019/2020 as compared with $6.28 billion in the preceding fiscal year.

    The imported quantity of the retail petroleum products, however, increased by 3.7 percent during the year under review. The quantity increased to 10.8 million metric tons during fiscal year 2019/2020 as compared with 10.42 million metric tons in the preceding year.

    The import of petroleum crude even fell more sharply by 40.44 percent to $2.72 billion during fiscal year 2019/2020 as compared with $4.57 billion in the preceding fiscal year.

    The import of Liquefied Natural Gas (LNG) has declined by 20.21 percent to $2.66 billion during fiscal year 2019/2020 as compared with $3.33 billion in the preceding fiscal year.

    However, import of Liquefied Petroleum Gas (LPG) registered 17.63 percent growth to $294 million during fiscal year 2019/2020 as compared with $250 million in the preceding fiscal year.

  • Pakistan spends Rs217 billion on import of mobile phones in FY20

    Pakistan spends Rs217 billion on import of mobile phones in FY20

    ISLAMABAD: Pakistan has spent Rs217 billion on import of mobile phones during fiscal year 2019/2020 amid slow economy and outbreak of coronavirus pandemic.

    The import of mobile phones was Rs217 billion during fiscal year 2019/2020 as compared with Rs102.75 billion in the preceding fiscal year, showing 81 percent growth, according to data released by Pakistan Bureau of Statistics (PBS).

    Market sources said that reduction in duty and taxes and restriction of registration with the Pakistan Telecommunication Authority (PTA) has increased the import of mobile phones through legal channels.

    The import of mobile phones in terms of US Dollars also increased to $1.4 billion during the fiscal year under review as compared with $755.55 million in the preceding fiscal year.

    Despite imposition of lockdown in the country to prevent coronavirus, the country imported mobile phones worth Rs38.2 billion in June 2020, which is 115 percent higher when compared with Rs17.78 billion in May 2020.

    The market sources said that due to lockdown the importance of digital economy had increased. They said that financial transactions were being done through mobile phones, which were the easiest way.

  • Trade deficit narrows by 27pc in 2019/2020

    Trade deficit narrows by 27pc in 2019/2020

    ISLAMABAD: Pakistan’s trade deficit narrowed by 27 percent to $23.18 billion in fiscal year 2019/2020 as against the deficit of $31.8 billion in the preceding fiscal year, Pakistan Bureau of Statistics (PBS) said on Friday.

    The import bill of the country significantly declined by 18.61 percent to $44.57 billion during July – June 2019/2020 as compared with $54.76 billion in the same period of the preceding year.

    The exports also fell by 6.84 percent to $21.38 billion in the fiscal year 2019/2020 as compared with $22.95 billion in the preceding fiscal year.

    The fall in import bill and export receipts may be attributed to COVID-19 which adversely affected the international trade and lower forecast the global economic growth.

  • Headline inflation increases by 8.6 percent in June

    Headline inflation increases by 8.6 percent in June

    ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) increased by 8.6 percent on Year on Year (YoY) basis in June 2020 as compared to an increase of 8.2 percent in the previous month and 8.0 percent in June 2019.

    Pakistan Bureau of Statistics (PBS) on Wednesday said that on month-on-month basis, it increased by 0.8 percent in June 2020 as compared to an increase of 0.3 percent in the previous month and an increase of 0.5 percent in June 2019.

    CPI inflation Urban, increased by 7.6 percent on year-on-year basis in June 2020 as compared to an increase of 7.3 percent in the previous month and 8.1 percent in June 2019.

    On month-on-month basis, it increased by 0.7 percent in June 2020 as compared to an increase of 0.3 percent in the previous month and an increase of 0.3 percent in June 2019.

    CPI inflation Rural, increased by 10.0 percent on year-on-year basis in June 2020 as compared to an increase of 9.7 percent in the previous month and 7.9 percent in June 2019.

    On month-on-month basis, it increased by 1.0 percent in June 2020 as compared to an increase of 0.3 percent in the previous month and an increase of 0.7 percent in June 2019.

    SPI inflation on YoY increased by 11.5 percent in June 2020 as compared to an increase of 11.0 percent a month earlier and an increase of 9.3 percent in June 2019.

    On MoM basis, it increased by 1.4 percent in June 2020 as compared to an increase of 2.2 percent a month earlier and an increase of 0.9 percent in June 2019.

    WPI inflation on YoY basis increased by 0.9 percent in June 2020 as compared to an increase of 1.5 percent a month earlier and an increase of 14.0 percent in June 2019.

    WPI inflation on MoM basis decreased by 0.3 percent in June 2020 as compared to a decrease of 2.1 percent a month earlier and an increase of 0.2 percent in corresponding month of last year i.e. June 2019.

    Core inflation (NFNE)

    Measured by non-food non-energy Urban CPI increased by 6.5 percent on (YoY) basis in June 2020 as compared to an increase of 6.3 percent in the previous month and 7.3 percent in June 2019. On (MoM) basis, it increased by 0.4 percent in June 2020 as compared to increase of 0.4 percent in previous month, and an increase of 0.2 percent in corresponding month of last year i.e. June 2019.

    Measured by non-food non-energy Rural CPI increased by 8.8 percent on (YoY) basis in June 2020 as compared to an increase of 8.4 percent in the previous month and 6.7 percent in June 2019. On (MoM) basis, it increased by 0.7 percent in June 2020 as compared to an increase of 0.4 percent in previous month, and an increase of 0.3 percent in corresponding month of last year i.e. June 2019.

    Core inflation (Trimmed)

    Measured by 20 percent weighted trimmed mean Urban CPI increased by 7.4 percent on (YoY) basis in June 2020 as compared to 6.7 percent in the previous month and by 7.3 percent in June 2019. On (MoM) basis, it increased by 0.4 percent in June 2020 as compared to an increase of 0.4 percent in the previous month and an increase of 0.4 percent in corresponding month of last year i.e. June 2019.

    Measured by 20 percent weighted trimmed mean Rural CPI increased by 9.9 percent on (YoY) basis in June 2020 as compared to 8.9 percent in the previous month and by 7.2 percent in June 2019.

    On (MoM) basis, it increased by 0.9 percent in June 2020 as compared to an increase of 0.5 percent in the previous month and an increase of 0.7 percent in corresponding month of last year i.e. June 2019.

  • Car imports fall by 61pc in eleven months

    Car imports fall by 61pc in eleven months

    KARACHI: The import of used and old cars witnessed sharp decline of 61 percent during first eleven months (July-May) of current fiscal year 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 61 percent to $84.2 million during July –May 2019/2020 as compared with $216.5 million in the corresponding period of the last year, according data released by Pakistan Bureau of Statistics (PBS).

    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, the FBR said.

    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, later in a meeting of 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 CBU vehicles during first eleven months of current fiscal year fell 48 percent. The import of heavy vehicles including buses and trucks has declined by 27 percent. While import of CBU motorcycles fell by 71 percent.

    On the other hand the import of cars as Completely Knocked Down (CKD) condition also fell by 40 percent to $440 million during July – May 2019 as compared with $736 million in the same period of the last fiscal year.

    Market 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 40 percent to $675 million during first eleven months of 2019/2020 as compared with $1.128 billion in the corresponding period of the last fiscal year.