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  • Pakistan’s trade deficit balloons $43.33 bn in 11 months

    Pakistan’s trade deficit balloons $43.33 bn in 11 months

    ISLAMABAD: Pakistan’s trade deficit ballooned to $43.33 billion during first 11 months (July – May) of fiscal year 2021/2022 owing to massive rise in import bill during the same period.

    According to trade data released by Pakistan Bureau of Statistics (PBS) on Thursday, the trade deficit widened by 58 per cent to $43.334 billion during first eleven months of the current fiscal year as compared with $27.45 billion in the corresponding months of the last fiscal year.

    READ MORE: Pakistan’s imports hit record high at $65.47 bn in 10 months

    Pakistan’s import bill massively increased to $72.18 billion during the period under review as compared with $50.03 billion in the same period of the last fiscal year, showing an increase of 44.28 per cent.

    On the other hand, exports have increased by 28 per cent to $28.85 billion during July – May 2021/2022 as compared with $22.57 billion in the corresponding period of the last fiscal year.

    READ MORE: Pakistan’s March trade deficit widens by only 5.5%

    The exports registered 55.66 per cent growth to $2.60 billion in the month of May 2022 as compared with $1.67 billion in the same month of the last year.

    READ MORE: Pakistan’s trade deficit widens to $32 billion in 8MFY22

    Meanwhile, import bill for the month of May 2022 increased by 25.43 per cent to $6.44 billion as compared with $5.297 billion in the same month of the last year.

    This resulted in widening of trade deficit by 11.50 per cent to $4.043 billion in the month of May 2022 as compared with the deficit of $3.62 billion in the same month of the last year.

    READ MORE: Pakistan’s trade deficit widens by 92% in seven months

  • Pakistan’s headline inflation up by 13.8% in May 2022

    Pakistan’s headline inflation up by 13.8% in May 2022

    ISLAMABAD: Pakistan’s headline inflation based on Consumer Price Index (CPI) increased by 13.8 per cent in May 2022 on Year on Year (YoY) basis as compared with 13.4 per cent in the previous month, Pakistan Bureau of Statistics (PBS) said on Wednesday.

    The latest inflation number is also higher when compared with 10.9 per cent in May 2021.

    READ MORE: Pakistan’s inflation sharply up by 13.4% in April 2022

    On month-on-month basis, it increased by 0.4 per cent in May 2022 as compared to increase of 1.6 per cent in the previous month and increase of 0.1 per cent in May 2021.

    CPI inflation Urban, increased by 12.4 per cent on year-on-year basis in May 2022 as compared to an increase of 12.2 per cent in the previous month and 10.8 per cent in May 2021.

    READ MORE: Pakistan’s headline inflation increases by 12.7% in March

    On month-on-month basis, it increased by 0.3 per cent in May 2022 as compared to increase of 1.6 per cent in the previous month and increase of 0.2 per cent in May 2021.

    CPI inflation Rural, increased by 15.9 per cent on year-on-year basis in May 2022 as compared to an increase of 15.1 per cent in the previous month and 10.9 per cent in May 2021. On month-on-month basis, it increased by 0.6 per cent in May 2022 as compared to increase of 1.6 per cent in the previous month and decrease of -0.03 per cent in May 2021.

    READ MORE: Food inflation rural increases by 14.6% in February 2022

    Sensitive Price Indicator (SPI) inflation on YoY increased by 14.1 per cent in May 2022 as compared to an increase of 14.2 per cent a month earlier and an increase of 19.7 per cent in May 2021.

    On MoM basis, it increased by 0.6 per cent in May 2022 as compared to increase of 1.5 per cent a month earlier and increase of 0.8 per cent in May 2021.

    READ MORE: Pakistan’s inflation climbs up 24-month high in January

    Wholesale Price Index (WPI) inflation on YoY basis increased by 29.6 per cent in May 2022 as compared to an increase of 28.1 per cent a month earlier and an increase of 19.4 per cent in May 2021.

    WPI inflation on MoM basis increased by 1.4 per cent in May 2022 as compared to increase of 3.2 per cent a month earlier and increase of 0.3 per cent in corresponding month i.e. May 2021.

  • Pakistan’s imports hit record high at $65.47 bn in 10 months

    Pakistan’s imports hit record high at $65.47 bn in 10 months

    ISLAMABAD: Pakistan’s imports reached to record high at $65.49 billion during first 10 months (July – April) 2021/2022, according to data released by Pakistan Bureau of Statistics (PBS).

    The import bill increased by 46.41 per cent to $65.47 billion during first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the current fiscal year.

    READ MORE: Pakistan’s March trade deficit widens by only 5.5%

    On the other hand, the exports of the country registered a growth of 25.46 per cent to $26.23 billion during the period under review as compared with $20.9 billion in the same period of the last fiscal year.

    The trade deficit sharply widened by 64.79 per cent to $39.26 billion during July – April 2021/2022 as compared with $23.83 billion in the corresponding period of the last fiscal year.

    READ MORE: Pakistan’s trade deficit widens to $32 billion in 8MFY22

    The exports of the country recorded an increase of 29.53 per cent to $2.87 billion in the month of April 2022 as compared with $2.22 billion in the same month of the last year.

    The import bill in April 2022 recorded an increase of 26.19 per cent to $6.62 billion as compared with $5.42 billion in the same month last year.

    The trade deficit ballooned by 23.74 per cent to $3.74 billion in April 2022 as compared with $3.02 billion in April 2021.

    READ MORE: Pakistan’s trade deficit widens by 92% in seven months

    Similarly, the exports recorded an increase of 3.27 per cent to $2.87 billion in April 2022 when compared with $2.78 billion in March 2022.

    The import bill recorded an increase of 2.96 per cent to $6.62 billion in April 2022 as compared with $6.43 billion in the preceding month.

    The trade deficit widened by 2.72 per cent to $3.74 billion in April 2022 when compared with $3.64 billion in March 2022.

    READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22

  • Pakistan’s inflation sharply up by 13.4% in April 2022

    Pakistan’s inflation sharply up by 13.4% in April 2022

    ISLAMABAD: Pakistan’s headline inflation based on Consumer Price Index (CPI) increased sharply by 13.4 per cent in April 2022, according to details released on Sunday.

    Pakistan Bureau of Statistics (PBS) said that CPI inflation General, increased by 13.4 per cent on year-on-year basis in April 2022 as compared to an increase of 12.7 per cent in the previous in March 2022 and 11.1 per cent in April 2021.

    READ MORE: Pakistan’s headline inflation increases by 12.7% in March

    On month-on-month basis, it increased by 1.6 per cent in April 2022 as compared to increase of 0.8 per cent in March 2022 and increase of 1.0 per cent in April 2021.

    CPI inflation Urban, increased by 12.2 per cent on year-on-year basis in April 2022 as compared to an increase of 11.9 per cent in the previous month and 11.0 per cent in April 2021.

    READ MORE: Food inflation rural increases by 14.6% in February 2022

    On month-on-month basis, it increased by 1.6 per cent in April 2022 as compared to increase of 0.7 per cent in the previous month and increase of 1.3 per cent in April 2021.

    CPI inflation Rural, increased by 15.1 per cent on year-on-year basis in April 2022 as compared to an increase of 13.9 per cent in the previous month and 11.3 per cent in April 2021.

    On month-on-month basis, it increased by 1.6 per cent in April 2022 as compared to increase of 1.0 per cent in the previous month and increase of 0.6 per cent in April 2021.

    READ MORE: Pakistan’s inflation climbs up 24-month high in January

    Sensitive Price Indicator (SPI) inflation on YoY increased by 14.2 per cent in April 2022 as compared to an increase of 13.0 per cent a month earlier and an increase of 21.3 per cent in April 2021.

    On MoM basis, it increased by 1.5 per cent in April 2022 as compared to increase of 0.6 per cent a month earlier and increase of 0.4 per cent in April 2021.

    READ MORE: Sales tax exempted on all petroleum products

    Wholesale Price Index (WPI) inflation on YoY basis increased by 28.1 per cent in April 2022 as compared to an increase of 23.8 per cent a month earlier and an increase of 16.6 per cent in April 2021.

    WPI inflation on MoM basis increased by 3.2 per cent in April 2022 as compared to increase of 3.9 per cent a month earlier and a decrease of -0.4 per cent in corresponding month i.e. April 2021.

  • Pakistan’s March trade deficit widens by only 5.5%

    Pakistan’s March trade deficit widens by only 5.5%

    ISLAMABAD: Pakistan’s trade deficit in the month of March 2022 increased by only 5.5 per cent due to higher growth of exports during the month.

    According to data released by Pakistan Bureau of Statistics (PBS) on Monday, the exports recorded a growth of 16 per cent to $2.74 billion in March 2022 as compared with $2.36 billion in the corresponding month of the last year.

    READ MORE: Pakistan’s trade deficit widens to $32 billion in 8MFY22

    On the other hand, import bill registered an increase of 10 per cent to $6.19 billion in the month of March 2022 as compared with $5.63 billion in the same month of the last year.

    Therefore, the trade deficit for the month of March 2022 was recorded at $3.45 billion as compared with the deficit of $3.27 billion in March 2021, showing an increase of 5.5 per cent.

    Overall the trade deficit widened by 70 per cent to $35.39 billion during first nine months (July – March) 2021/2022 as compared with the deficit of $20.8 billion in the corresponding months of the last fiscal year.

    READ MORE: Pakistan’s trade deficit widens by 92% in seven months

    The exports of the country recorded an increase of 24.67 per cent to $23.3 billion during first nine months of the current fiscal year as compared with $18.7 billion in the same months of the last fiscal year.

    Meanwhile, import bill registered an increase of 48.63 per cent to $58.69 billion during July – March 2021/2022 as compared with $39.49 billion in the corresponding period of the last fiscal year.

    READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22

    The balance of trade registered a deficit of 11.63 per cent to $3.45 billion in March 2022 as compared with the deficit of $3.09 billion in February 2022.

    The exports recorded a decline of 3 per cent to $2.74 billion in March 2022 as compared with $2.82 billion in February 2022.

    However, import bill recorded 4.72 per cent increase to $6.19 billion in March 2022 when compared with $5.9 billion in the previous month of 2022.

    READ MORE: Pakistan’s trade deficit widens by 112% to $20.59 billion

  • Pakistan’s headline inflation increases by 12.7% in March

    Pakistan’s headline inflation increases by 12.7% in March

    ISLAMABAD: Pakistan’s headline inflation based on Consumer Price Index (CPI) increased by 12.7 per cent in March 2022 on year on year (YoY) basis as compared with an increase of 12.2 per cent in the previous month and 9.1 per cent in March 2021.

    On month-on-month basis, it increased by 0.8 per cent in March 2022 as compared to increase of 1.2 per cent in the previous month and increase of 0.4 per cent in March 2021, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

    READ MORE: Food inflation rural increases by 14.6% in February 2022

    CPI inflation Urban, increased by 11.9 per cent on year-on-year basis in March 2022 as compared to an increase of 11.5 per cent in the previous month and 8.7 per cent in March 2021. On month-on-month basis, it increased by 0.7 per cent in March 2022 as compared to increase of 0.9 per cent in the previous month and increase of 0.3 per cent in March 2021.

    READ MORE: Pakistan’s inflation climbs up 24-month high in January

    CPI inflation Rural, increased by 13.9 per cent on year-on-year basis in March 2022 as compared to an increase of 13.3 per cent in the previous month and 9.5 per cent in March 2021. On month-on-month basis, it increased by 1.0 per cent in March 2022 as compared to increase of 1.5 per cent in the previous month and increase of 0.5 per cent in March 2021.

    READ MORE: Sales tax exempted on all petroleum products

    Sensitive Price Indicatory (SPI) inflation on YoY increased by 13.0 per cent in March 2022 as compared to an increase of 18.7 per cent a month earlier and an increase of 18.7 per cent in March 2021. On MoM basis, it increased by 0.6 per cent in March 2022 as compared to increase of 1.3 per cent a month earlier and increase of 5.7 per cent in March 2021.

    READ MORE: PM Imran reduces, freezes POL prices

    Wholesale Price Index (WPI) inflation on YoY basis increased by 23.8 per cent in March 2022 as compared to an increase of 23.6 per cent a month earlier and an increase of 14.6 per cent in March 2021. WPI inflation on MoM basis increased by 3.9 per cent in March 2022 as compared to increase of 1.9 per cent a month earlier and an increase of 3.7 per cent in corresponding month i.e. March 2021.

  • Pakistan’s trade deficit widens to $32 billion in 8MFY22

    Pakistan’s trade deficit widens to $32 billion in 8MFY22

    ISLAMABAD: Pakistan’s trade deficit has widened to around $32 billion in first eight months (July – February) 2021/2022 8MFY22, according to official data released on Wednesday.

    The trade deficit widened by 82.26 per cent during the period under review as compared with the deficit of $17.53 billion in the corresponding period of the last fiscal year, showed the data released by Pakistan Bureau of Statistics (PBS).

    READ MORE: Pakistan’s trade deficit widens by 92% in seven months

    The country’s exports registered an increase of 26 per cent to $20.55 billion during first eight months of the current fiscal year as compared with $16.32 billion in the same period of the last fiscal year.

    The import bill surged by 55 per cent to $52.5 billion during July – February 2021/2022 as compared with $33.86 billion in the corresponding period of the last fiscal year.

    READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22

    The trade deficit ballooned by 22 per cent to $3.1 billion in February 2022 as compared with the deficit of $2.53 billion in the same month of the last year.

    The exports during the month of February 2022 recorded a sharp increase of 36 per cent to $2.81 billion as compared with $2.07 billion in the same month of the last year.

    READ MORE: Pakistan’s trade deficit widens by 112% to $20.59 billion

    The import bill registered an increase of 28.3 per cent to $5.9 billion in February 2022 as compared with $4.6 billion in the same month of the last year.

    READ MORE: Pakistan’s import bill surges by 65% in four months

  • Food inflation rural increases by 14.6% in February 2022

    Food inflation rural increases by 14.6% in February 2022

    ISLAMABAD: Food inflation based on consumer price index (CPI) has increased by 14.6 per cent in February 2022 for people living in rural areas as compared with 11.8 per cent in the previous months, according to data released by Pakistan Bureau of Statistics (PBS) on Tuesday.

    Meanwhile, the food inflation increased by 14.3 per cent in February 2022 for people living in urban areas as compared with 13.3 per cent in the previous month.

    READ MORE: Pakistan’s inflation climbs up 24-month high in January

    However, non-food inflation for rural areas increased by 12.2 per cent in February 2022 as compared with 13.9 per cent in the previous month. The non-food inflation also grew by 9.9 per cent for people living in urban areas in February 2022 as compared with 12.8 per cent in the previous month.

    CPI inflation general, increased by 12.2 per cent on year-on-year basis in February 2022 as compared to an increase of 13.0 per cent in the previous month and 8.7 per cent in February 2021. On month-on-month basis, it increased by 1.2 per cent in February 2022 as compared to increase of 0.4 per cent in the previous month and increase of 1.8 per cent in February 2021.

    READ MORE: Sales tax exempted on all petroleum products

    CPI inflation general for urban areas increased by 11.5 per cent on year-on-year basis in February 2022 as compared to an increase of 13.0 per cent in the previous month and 8.6 per cent in February 2021. On month-on-month basis, it increased by 0.9 per cent in February 2022 as compared to increase of 0.1 per cent in the previous month and increase of 2.3 per cent in February 2021.

    CPI inflation general for rural, increased by 13.3 per cent on year-on-year basis in February 2022 as compared to an increase of 12.9 per cent in the previous month and 8.8 per cent in February 2021. On month-on-month basis, it increased by 1.5 per cent in February 2022 as compared to increase of 0.9 per cent in the previous month and increase of 1.1 per cent in February 2021.

    READ MORE: PM Imran reduces, freezes POL prices

    Inflation based on Sensitive Price Indicator (SPI) on YoY increased by 18.7 per cent in February 2022 as compared to an increase of 20.9 per cent a month earlier and an increase of 11.9 per cent in February 2021. On MoM basis, it increased by 1.3 per cent in February 2022 as compared to decrease of -0.8 per cent a month earlier and increase of 3.1 per cent in February 2021.

    READ MORE: Mini-budget likely to push up inflation: SBP

    Wholesale Price Indicator (WPI) on YoY basis increased by 23.6 per cent in February 2022 as compared to an increase of 24.0 per cent a month earlier and an increase of 9.5 per cent in February 2021. WPI inflation on MoM basis increased by 1.9 per cent in February 2022 as compared to increase of 0.6 per cent a month earlier and an increase of 2.2 per cent in corresponding month i.e. February 2021.

  • Pakistan’s sensitive price inflation jumps up 18%

    Pakistan’s sensitive price inflation jumps up 18%

    ISLAMABAD: The inflation based on Sensitive Price Indicator (SPI) jumped up by 18 per cent by week ended February 17, 2022 as compared with the same week a year ago.

    According to data released by Pakistan Bureau of Statistics (PBS) on Friday, the year on year trend depicts an increase of 18.09 per cent, in Tomatoes (322.87 per cent), Electricity for Q1 (65.79 per cent), Garlic (60.98 per cent), LPG (55.11 per cent), Mustard Oil (48.44 per cent), Petrol (42.28 per cent), Cooking Oil 5 litre (41.81 per cent), Vegetable Ghee 1 Kg (39.13 per cent), Vegetable Ghee 2.5 Kg (38.97 per cent), Washing Soap (38.40 per cent), Pulse Masoor (37.19 per cent) and Diesel (32.26 per cent).

    READ MORE: Pakistan’s inflation climbs up 24-month high in January

    While major decrease observed in the prices of Chillies Powdered (36.30 per cent), Pulse Moong (28.43 per cent), Chicken (9.77 per cent), Sugar (5.72 per cent), Onions (3.84 per cent) and Potatoes (0.38 per cent).

    The SPI is computed on weekly basis to assess the price movements of essential commodities at shorter interval of time so as to review the price situation in the country. SPI comprises of 51 essential items collected from 50 markets in 17 cities of the country.

    READ MORE: January headline inflation may clock near 13%

    The SPI for the current week ended on February 17, 2022 recorded an increase of 0.22 per cent. Increase in the prices of food items Garlic (10.53 per cent), Tomatoes (4.35 per cent), Bananas (4.28 per cent), Chicken (2.89 per cent), Cooked Daal (1.94 per cent) and Vegetable Ghee 2.5kg (1.08 per cent) and non-food items Petrol (8.12 per cent), Diesel (6.52 per cent), Match Box (2.17 per cent) and Long Cloth (1.50 per cent) was observed with joint impact of (1.21 per cent) into the overall SPI for combined group of (0.22 per cent).

    READ MORE: Mini-budget likely to push up inflation: SBP

    On the other hand, decrease is observed in the prices of Chillies Powdered (5.41 per cent), Eggs (5.31 per cent), Electricity for Q1 (5.20 per cent), Onions (1.39 per cent), Potatoes (0.89 per cent), Gur (0.82 per cent), Sugar (0.59 per cent), Wheat Flour (0.27 per cent), LPG (0.17 per cent), Pulse Moong (0.11 per cent), and Pulse Mash (0.08 per cent).

    During the week, out of 51 items, prices of 28 (54.90 per cent) items increased, 11 (21.57 per cent) items decreased and 12 (23.53 per cent) items remained stable.

    READ MORE: Headline inflation rises by 12.3% in December 2021

  • Pakistan spends Rs217 billion to import mobile phones

    Pakistan spends Rs217 billion to import mobile phones

    ISLAMABAD: Pakistan has spent Rs217 billion to import mobile phones during first seven months (July – December) 2021/2022, according to data release by Pakistan Bureau of Statistics (PBS).

    The import of mobile phones grew by 17.25 per cent when compared with Rs185 billion in the first seven months of the fiscal year 2020/2021.

    READ MORE: FBR issues updated rates of duty, taxes on mobile phones

    The growth in the import of mobile phones may be attributed to depreciation in rupee value against the dollar.

    The rupee weakened by Rs17.85 or 11.33 per cent to the dollar when compared Rs157.54 on June 30, 2021 with Rs175.39 as on February 17, 2022.

    READ MORE: Regulations needed for used mobile phones’ accessories

    The local currency recorded all-time low of Rs178.24 to the dollar on December 29, 2021.

    In dollar term, the import of cellphones recorded a growth of 12 per cent to $1.27 billion during first seven months of the current fiscal year as compared with $1.13 billion in the corresponding months of the last fiscal year.

    READ MORE: FBR collects mobile phone tax, PTA clarifies

    However, the import of mobile phones recorded a decline of 8.68 per cent to $179.77 million in the month of January 2022 when compared with $197 million in the same month of the last year.

    The decline may be attributed to production of mobile phones locally.

    READ MORE: FBR increases income tax to 15% on cellular services