Tag: trade deficit

  • 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 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

  • Pakistan’s trade deficit widens by 92% in seven months

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

    ISLAMABAD: Pakistan’s trade deficit has widened by 92 per cent during first seven months (July – January) of fiscal year 2021/2022, official statistics revealed on Wednesday.

    The trade deficit ballooned to $28.8 billion during the first seven months of the current fiscal year as compared with $15 billion in the corresponding months of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS).

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

    The exports exhibited a growth of 24 per cent to $17.67 billion during the period under review as compared with $14.25 billion in the same period of the last fiscal year.

    Meanwhile, the import bill of the country surged by 59 per cent to $46.47 billion during first seven months of the current fiscal year as compared with $29.25 billion in the corresponding months of the last fiscal year.

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

    The trade deficit widened by 26.49 per cent to $3.36 billion in the month of January 2022 as compared with the deficit of $2.66 billion in the same month of the last year.

    The exports increased by 18.69 per cent to $2.55 billion in January 2022 as compared with $2.145 billion in the same month of the last year.

    Similarly, the imports grew by 23 per cent to $5.9 billion in the month of January 2022 as compared with $4.8 billion in the same month of the last year.

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

    However, imports registered a massive decline of 22 per cent to $5.9 billion in January 2022 as compared with $7.58 billion in the month of December 2021.

    Similarly, exports fell by 8 per cent to $2.54 billion in January 2022 as compared with $2.76 billion in the previous month.

    The trade deficit recorded a decline of 30 per cent to $3.36 billion in January 2022 as compared with the deficit of $4.81 billion in December 2021.

    READ MORE: Pakistan’s trade deficit doubles in first quarter

  • Pakistan’s trade deficit swells by 100% in 1HFY22

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

    ISLAMABAD: Pakistan’s trade deficit has doubled to $24.8 billion during first half (July – December) of 2021/2022 1HFY22. The trade deficit was $12.36 billion in the same half of the last fiscal year.

    The import bill of the country surged by 63 per cent to $40 billion during the first half of the current fiscal year as compared with $24.47 billion in the same half of the last fiscal year, according to data shared by Arif Habib Limited.

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

    The exports registered a growth of 25 per cent to $15.13 billion during first six months of the current fiscal year as compared with $12.11 billion in the corresponding months of the last fiscal year.

    The trade deficit for the month of December 2021 contracted by 18 per cent to $4.14 billion as compared with $5.03 billion in November 2021.

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

    Import bill of the country declined by 13 per cent to $6.9 billion in December 2021 as compared with $7.93 billion in November 2021. Meanwhile exports of the country also fell by five per cent to $2.76 billion in December 2021 as compared with $2.9 billion in November 2021.

    READ MORE: Pakistan’s trade deficit doubles in first quarter

  • Pakistan’s trade deficit widens by 112% to $20.59 billion

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

    ISLAMABAD: Pakistan’s trade deficit ballooned by 112 per cent to $20.59 billion during the first five months (July – November) of the current fiscal year 2021/2022, according to official data released on Thursday.

    (more…)
  • Miftah Ismail highlights key reasons behind rupee fall

    Miftah Ismail highlights key reasons behind rupee fall

    Miftah Ismail, Former Federal Minister for Finance, has pointed out key reasons behind the massive depreciation in Pak Rupee (PKR) against the dollar.

    (more…)
  • Pakistan’s import bill surges by 65% in four months

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

    ISLAMABAD: The import bill of Pakistan surged by 65.15 per cent during the first four months (July – October) of 2021/2022, according to official statistics released on Tuesday.

    The import bill increased to $25.06 billion during the first four months of the current fiscal year as compared with $15.17 billion in the same period of the last fiscal year, according to data of Pakistan Bureau of Statistics (PBS).

    On the other hand, exports of the country registered a growth of 24.71 per cent to $9.44 billion during the first four months of the current fiscal year as compared with $7.57 billion in the corresponding months of the last year.

    The trade deficit of the country swelled by 105.43 per cent to $15.62 billion during July – October of the current fiscal year as compared with the deficit of $7.60 billion in the same period of the last fiscal year.

    The trade deficit widened by 117 per cent to $3.88 billion in October 2021 when compared with the deficit of 1.789 billion in the same month of the last year.

    The import bill during the month of October 2021 increased by 63 per cent to $6.334 billion as against $3.89 billion in the same month of the last year.

    Similarly, the exports exhibited a growth of 16.52 per cent to $2.45 billion in October 2021 as compared with $2.1 billion in the same month of the last year.

  • Pakistan’s trade deficit doubles in first quarter

    Pakistan’s trade deficit doubles in first quarter

    ISLAMABAD: Pakistan’s trade deficit has doubled in first quarter (July – September) 2021/2022 owing to sharp increase in import bill, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday.

    The trade deficit has ballooned by 100.62 per cent to $11.66 billion during the first quarter of the current fiscal year as compared with the deficit of $5.81 billion in the corresponding quarter of the last fiscal year.

    The import bill posted an unprecedented growth of 65 per cent to $18.63 billion during the first quarter of the current fiscal year as compared with $11.28 billion in the corresponding quarter of the last fiscal year.

    The exports of the country registered 27 per cent growth to $6.96 billion during July – September 2021 as compared with $5.47 billion in the same period of the last fiscal year.

    The trade deficit on year on year (YoY) basis in September 2021 widened by 70 per cent to $4.1 billion as compared with the deficit of $2.41 billion. The import bill recorded an increase of 50.78 per cent to $6.48 billion in September 2021 as compared with $4.29 billion in the same month of the last year.

    The exports also exhibited a growth of 26.13 per cent to $2.38 billion in September 2021 as compared with $1.88 billion in the same month of the last year.

  • Finance ministry reviews trade balance situation

    Finance ministry reviews trade balance situation

    ISLAMABAD:  Federal Finance Minister Shaukat Tarin presided over a meeting on Monday to review the trade balance situation.

    Federal Minister for Economic Affairs Division Omar Ayub Khan, Secretary Commerce, Secretary M/o Information Technology, Secretary Finance Division, Governor State Bank of Pakistan Dr. Reza Baqir, Executive Director General BOI, and other senior officers participated in the meeting.

    Adviser for Commerce Abdul Razak Dawood participated through a video link.

    Secretary Commerce briefed the participants about the trade balance situation over the last two months.

    Considering the expansion in economic activity, the import of one-time items like vaccines for COVID-19 as well as increased demand for raw materials has resulted in increasing imports during July and August 2021.

    In his remarks, the Finance Minister stated that the economy is in a state of growth. As the economy registered a growth rate of 4 per cent during FY2021, there is an increased demand for imports.

    As long as the trade deficit is within a sustainable level, it will stimulate economic recovery, he added.

    The Finance Minister stressed upon the Ministry of Commerce to conduct sensitivity analysis and build scenarios for effective forecasting both in imports as well as exports for each month of the year.

    In his concluding remarks, the Finance Minister said that the prudent policies adopted by the present government have stimulated economic recovery amid the COVID-19 pandemic. The economy is heading in the right direction.

    The enhanced revenue collection along with improved ratings (Business Confidence Index and by international credit rating agencies) indicates that the economy has gained momentum and is geared towards inclusive and sustainable economic growth.

  • Trade deficit balloons 120% to $7.49 billion in two months

    Trade deficit balloons 120% to $7.49 billion in two months

    ISLAMABAD: Pakistan’s trade deficit ballooned by 120 per cent to $7.49 billion in first two months (July – August) of the current fiscal year.

    (more…)