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Tag: trade deficit

  • Trade deficit contracts by 13.02 percent to $23.67 billion in nine months

    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.

  • Trade deficit narrows by 11 percent in eight 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

  • RD regime brings down import by 23pc

    RD regime brings down import by 23pc

    ISLAMABAD – Recent regulatory duties (RD) imposed on luxury and non-essential items have significantly reduced imports in Pakistan, with a decline of 23 percent observed in December 2018.

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