Pkrevenue.com

Tag: PBS

  • Pakistan’s trade deficit narrows by 33.52 percent in July – October

    Pakistan’s trade deficit narrows by 33.52 percent in July – October

    ISLAMABAD: Pakistan’s trade deficit has narrowed by 33.52 percent during first four months (July – October) of current fiscal year owing to improving exports.

    According to data released by Pakistan Bureau of Statistics (PBS) on Thursday, the trade deficit reduced to $7.77 billion during July – October of current fiscal year as compared with the deficit of 11.7 billion in the corresponding period of the last fiscal year.

    The country’s exports registered four percent growth during the period under review. The exports grew to $7.54 billion during first four months of the current fiscal year as compared with $7.27 billion in the same period of the last fiscal year.

    However, the import bill of the country sharply fell by 19.21 percent during the period. The import bill declined to $15.32 billion during July – October of the current fiscal year as compared with $18.96 billion in the corresponding period of the last fiscal year.

  • Significant decline in import bill sharply narrows trade deficit by 35 percent in first quarter

    Significant decline in import bill sharply narrows trade deficit by 35 percent in first quarter

    ISLAMABAD: Significant decline in import bill helped to sharply narrow the trade deficit by 35 percent during first quarter of current fiscal year, according to data released Pakistan Bureau of Statistics (PBS) on Friday.

    The trade deficit narrowed by 35 percent to $5.72 billion during July – September 2019 of current fiscal year as compared with deficit of $8.79 billion in the corresponding period of the last fiscal year.

    The total import bill of the country fell by 21 percent to $11.25 billion during first quarter of the current fiscal year as compared with $14.16 billion in the same period of the last fiscal year.

    Meanwhile, the exports have posted 3 percent growth to $5.52 billion during July – September 2019 as compared with $5.37 billion in the same period of the last fiscal year.

  • Pakistan imports mobile phones worth Rs26 billion; up 52.4pc in July – August

    Pakistan imports mobile phones worth Rs26 billion; up 52.4pc in July – August

    KARACHI: Pakistan has imported mobile phones worth Rs26 billion during first two months of current fiscal year, which is 52.4 percent higher when compared with Rs16.98 billion in the same period of the last fiscal year.

    The higher import of mobile phones can be attributed to massive depreciation of Pak Rupee during the comparative year and deterrence created against smuggled mobile phones.

    According to Pakistan Bureau of Statistics (PBS) that rupee value converted into US Dollar on average monthly exchange rate provided by State Bank of Pakistan (SBP).

    The PBS said that the exchange rate for import value has been applied as: August 2019 (1$=RS.158.077024 ), July 2019 (1$=Rs.158.829694) and August 2018 (1$=Rs.123.789583).

    On the other hand the mandatory registration through system introduced by Pakistan Telecommunication Authority (PTA) also discouraged the influx of smuggle phones and resulted in high number of clearance through legal channels.

    The PBS said that in terms of dollar the import of mobile phones registered 19.4 percent growth during the period under review.

    The import of mobile phones was $163.484 million during July – August 2019 as compared with $136.91 million in the corresponding period of the last year.

    The country imported mobile phones worth Rs13.47 billion in the month of August 2019, which is 61 percent higher when compared with Rs8.37 billion in the same month of last year.

    The latest figures of August 2019 are also 8.38 percent higher when compared with Rs12.43 billion in July 2019.

    Related Stories

    Mobile phones import down by 22.15 percent on mandatory registration

  • Car imports fall sharply by 85 percent in first two months

    Car imports fall sharply by 85 percent in first two months

    KARACHI: The car imports in Pakistan have sharply fell by 85 percent during first two months of current fiscal year owing to payment restriction imposed for customs clearance.

    (more…)
  • Rebasing lowers average inflation for July-August

    Rebasing lowers average inflation for July-August

    ISLAMABAD: The average headline inflation i.e. Consumer Price Index (CPI) was calculated at 9.44 for the months of July and August, 2019 on the basis of revised base year, a statement said on Wednesday.

    Pakistan Bureau of Statistics (PBS) revised base year for calculating Consumer Price Index (CPI) from 2007-2008 to 2015-2016.

    The CPI on new base (2015-16) comprises of urban CPI and Rural CPI. The Urban CPI covers 35 cities and 356 consumer items. The Rural CPI covers 27 Rural Centers and 244 consumer items. In the new base year (2015-16) National CPI for 12 major groups is also computed by taking weighted average of Urban CPI and Rural CPI.

    According to the PBS, the inflation rate for August 2019 over July 2019 as per base year 2007-2008 is 1.3 percent and 1.64 percent as per base year 2016-2016.

    The inflation rate for August 2019 over August 2018 is at 11.63 percent as per base year 2007-2008 and 10.49 percent as per base year 2015-2016.

    The average inflation rate for July – August 2019 over the same period of last year is 10.98 percent as per base year 2007-2008 and 9.44 percent as per base year 2015/2016.

    The CPI National with base year (2015-16) for the month of August, 2019 has increased by 1.64 percent over July, 2019. The Urban CPI with base year (2015-16) recorded an increase of 1.46 percent while Rural CPI with base year (2015-16) recorded an increase of 1.91 percent. CPI with old base year (2007-08) recorded an increase of 1.38 percent.

    Top few commodities which varied from previous month i.e. July, 2019 are given below:

    URBAN:

    Increased: Chicken (40.75 percent), Tomatoes(37.47 percent), Onions(32.31 percent), Fresh vegetables(12.84 percent), Eggs (9.76 percent), Potatoes(6.21 percent), Cooking oil(4.68 percent), Vegetable ghee(4.18 percent), Motor fuel(3.88 percent), Sugar(3.78 percent), Pulse masoor(2.54 percent), Mustard oil(1.75 percent), Pulse gram(1.44 percent), Wheat flour (1.29 percent) and Pulse mash(1.01 percent).

    Decreased: Fresh fruits(15.64 percent), Liquified Hydrocarbons (LPG) (5.19 percent), and Wheat(0.3 percent).

    RURAL:

    Increased: Tomatoes(35.4 percent), Onions(28.49 percent), Chicken(26.56 percent), Potatoes(18.18 percent), Fresh Vegetables(10.96 percent), Eggs(9.79 percent), Sugar(5.21 percent), Doctor Clinic Fee (4.74 percent), Motor Fuels (4.21 percent), Cooking oil(3.22 percent), Pulse Moong(2.81 percent), Vegetable ghee(2.51 percent), Pulse Mash(2.35 percent) and Milk powder(1.85 percent).

    Decreased: Fresh fruits(20.6 percent), Fish(2.8 percent), Beans(1.72 percent) and Wheat(0.32 percent).

    Related Stories

    Headline inflation increases by 10.3pc in July 2019

  • Textile exports decline by 15pc in June on budgetary measures

    Textile exports decline by 15pc in June on budgetary measures

    KARACHI: Pakistan’s textile exports fell by 15 percent in June 2019 to $1.01 billion as compared with $1.19 billion in the same month of the last year, according to export data released by Pakistan Bureau of Statistics (PBS) on Friday.

    The exports of June 2019 has also exhibited 14.55 percent decline when compared with $1.18 billion in May 2019.

    Analysts said that uncertainty in exchange rate and budgetary measures have negatively impacted the exports in the month of June 2019.

    They said that the currency fluctuated massively during past two months, which increased the cost of imported raw material. Further budgetary measures including elimination of sales tax zero-rating for five export sectors also caused in export decline.

    The overall exports of textile products fell by 1.42 percent to $13.33 billion during fiscal year 2018/2019 as compared with $13.52 billion in the preceding fiscal year.

    The experts said that despite several incentives given by the government to this particular sector the exports were remained stagnant. They said that the government in terms of incentives had granted rebate and credit on duty and taxes.

    The exports of knitwear and readymade garments have supported the overall textile exports. The export of knitwear grew by 7 percent to $2.89 billion during fiscal year 2018/2019 as compared with $2.711 billion in the preceding fiscal year.

    Similarly, the export of readymade garments exhibited growth of three percent to $2.65 billion in the fiscal year under review as compared with $2.577 billion in the fiscal year 2017/2018.

    The export of raw cotton and cotton year witnessed decline of 65 percent and 18 percent during the comparative fiscal years.

    However, export of bead wear was remained flat at $2.262 billion in fiscal year 2018/2019 as compared with $2.261 billion in the preceding fiscal year.

    The State Bank of Pakistan (SBP) in its third quarterly report on Pakistan Economy said that the stagnation in overall textile exports stemmed from a slowdown in export growth (in value terms) of readymade garments and knitwear items, and Year on Year (YoY) declines in cotton fabric and yarn exports.

    Except for yarn, export values of all these major products suffered from a drop in unit prices, as quantum exports grew appreciably. The drop in dollar-based unit prices was mainly owed to exchange rate adjustments, as exports rose significantly in Pak Rupee terms, the SBP said.

    In rupee term the textile exports registered 22 percent growth during 2018/2019 as compared with preceding fiscal year.

    Related Posts:

    Textile exporters oppose proposed plan for abolishing zero-rating, FTR

    Monitoring of Withholding Tax: FBR launches mega operation against textile, sugar companies for tax evasion

  • Headline inflation increases by 8.9 percent in June

    Headline inflation increases by 8.9 percent in June

    ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) increased by 8.9 percent on year-on-year basis in June, 2019 as compared to an increase of 9.1 percent in the previous month and 5.2 percent in June 2018, Pakistan Bureau of Statistics (PBS) said on Tuesday.

    On month-on-month basis, it increased by 0.4 percent in June 2019 as compared to an increase of 0.8 percent in the previous month and an increase of 0.6 percent in corresponding month i.e. June 2018.

    Core inflation measured by non-food non-energy CPI (Core NFNE) increased by 7.2 percent on (YoY) basis in June 2019 as compared to an increase of 7.2 percent in the previous month and 7.1 percent in June 2018.

    On (MoM) basis, it in-creased by 0.3 percent in June 2019 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 2018.

    Core inflation, measured by 20 percent weighted trimmed mean CPI (Core Trimmed) increased by 7.3 percent on (YoY) ba-sis in June 2019 as compared to 7.5 percent in the previous month and by 5.4 percent in June 2018.

    On (MoM) basis, it in-creased by 0.4 percent in June 2019 as compared to an increase of 0.4 percent in the previous month and an increase of 0.2 percent in corresponding month of last year i.e. June 2018.

    Sensitive Price Indicator (SPI) based inflation on YoY basis increased by 10.6 percent in June 2019 as compared to an increase of 10.8 percent a month earlier and an increase of 1.9 percent in June 2018.

    On MoM basis, it increased by 1.6 percent as compared to an increase of 1.2 percent in the previous month and an increase of 1.8 percent in corresponding month of last year i.e. June 2018.

    Wholesale Price Index (WPI) inflation on YoY basis increased by 12.7 percent in June 2019 as compared to an increase of 14.0 percent a month earlier and an increase of 7.6 percent in June 2018.

    WPI inflation on MoM basis increased by 0.3 percent in June 2019 as compared to an increase of 1.4 percent a month earlier and an increase of 1.5 percent in corresponding month of last year i.e. June 2018.

  • Trade deficit narrows by 13.62 percent in eleven months

    Trade deficit narrows by 13.62 percent in eleven months

    ISLAMABAD: The trade deficit has narrowed by 13.62 percent in first eleven months owing to measures taken by the government to increase the cost of imported luxury and non-essential goods.

    According to trade data released by Pakistan Bureau of Statistics (PBS) on Tuesday, the trade deficit reduced to $29.2 billion during July – May 2018/2019 as compared with the deficit of $33.81 billion in the corresponding period of the last fiscal year.

    Primary reason for shrinking trade deficit is reduction in import bill. The total imports fell by 8.47 percent to $50.47 billion during first eleven months of current fiscal year as compared with $55.14 billion in the same period of the last fiscal year.

    The government during the last couple of years has taken measures to discourage import of luxury and non-essential goods by imposing regulatory duty.

    However, exports were remained flat at $21.26 billion during July – May 2018/2019 as compared with $21.33 billion in the corresponding period of the last fiscal year.

    It is pertinent to mention here that the government had also extended many facilitations to jack up the exports but despite enjoying relaxations on many heads the Pakistani exporters failed to capture world market.

  • Pakistan imports cell phones worth Rs84.2 billion in ten months

    Pakistan imports cell phones worth Rs84.2 billion in ten months

    KARACHI: Pakistan has imported mobile phones worth Rs84.2 billion during July – April 2018/2019 despite serious economic difficulties in the country.

    According to Pakistan Bureau of Statistics (PBS) the country imported mobile phones Rs84.2 billion during first ten months of current fiscal year as compared with Rs73.77 billion in the corresponding months of the last fiscal year, depicting increase of 14.14 percent.

    The rise import of cell phones increased despite the restrictions imposed by Pakistan Telecommunication Authority (PTA) that only registered cell phones would be activated in the country.

    Further the duty and taxes have been increased on the import of cell phones during past two mini budgets.

    Experts said that the rise in import value of cell phone was also due to depreciation in local currency against dollar.

    The import of cell phones in dollar term has decline by 7 percent to $632 million during July – April 2018/2019 as compared with $678.57 million in the corresponding period of the last fiscal year.

  • Pakistan’s trade deficit narrows by 13pc in 10 months

    Pakistan’s trade deficit narrows by 13pc in 10 months

    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.

    The trade deficit narrowed to $26.3 billion during July – April of current fiscal year as compared with the deficit of $30.17 billion in the same period of the last fiscal year.

    The major reason behind shrinking trade deficit was reduction in import bill. The import bill was declined to $45.47 billion during first 10 months of current fiscal year when compared with $49.36 billion in the corresponding period of the last fiscal year.

    The exports of the country, however, remained stagnant. The exports were at $19.17 billion during July – April 2018/2019 as compared with $19.19 billion in the same period of the last fiscal year.

    The State Bank of Pakistan (SBP) in its third quarterly report said that most of the deficit reduction during Jul-Mar FY19 was recorded in Q3, when imports dropped quite sharply in response to a deepening decline in purchases of foreign power generation machinery, aircraft and railway locomotives; technical and administrative hiccups in LNG imports (and power generation); and a temporary softening in global oil prices.

    Further support came from regulatory and macro stabilization measures taken earlier, which impacted industrial performance and reduced demand for imported raw materials (such as iron and steel), and also curtailed consumers’ demand for cars (thereby lowering imports of CBUs).

    In percentage terms, the 18.1 percent decline in the overall imports in Q3-FY19 was the largest drop in a quarter in almost 10 years. It was more than sufficient to offset a 3.3 percent contraction in exports in the quarter, and led the trade deficit to drop by a sizable 27.6 percent