Pakistan’s trade deficit rose to $20.20 billion during the first eight months (July-February 2017) of the current fiscal year, showing an increase by 34.33 percent from $15.039 billion for the same period an year ago, Pakistan Bureau of Statistics (PBS) revealed today.
Provisional trade data released by the PBS showed a decline of 3.9 percent in exports during July-February 2017 with exports contracting to $13.318 billion in the first eight months of the current fiscal year as compared to $13.859 billion for the same period of last fiscal year.
However, imports increased to $33.520 billion in July-February 2017 as compared to $28.898 billion for the same period of last fiscal year, showing an increase of 15.99 percent.
Trade deficit increased to $2.807 billion in February 2017, up by 87.88 percent from $1.494 billion for the same month a year ago.
A significant decrease of 8.29 percent was noted in the exports in February 2017 while increase in imports was substantially high, 35.52 percent.
Exports have decreased to $1.638 billion in February 2017 from $1.786 billion for the same month a year before while imports have increased to $4.737 billion from $3.455 billion.
Trade deficit in February 2017 was recorded at $2.807 billion, which was 4.65 percent lower from $2.944 billion for the previous month of January 2017.
A decrease of 7.98 percent in exports and 5.91 percent in imports was recorded by the PBS in February 2017 over the previous month. Exports decreased to $1.638 billion in February 2017 over $1.780 billion in January 2017 while imports have decreased to $4.445 billion as compared to $4.724 billion.
That’s Nawaz Sharif, economy booming only on Ishaq Dar’s files. He’s master of manipulation.
True, exchequer having 27 b$, IMF and all international financial institutions/monitoring bodies are so dumb to find it out which you have explored.
Project underway and imports for these projects will show on your import bill but you are ignoring 5 billion $ increase here.
Paid worker? Or volunteer?
a massive difference in import bill and export exchequer ,, and the difference is growing exponentially. instead of making bridges and underpasses, governments should help grow the industry through technology transfer agreements, provide easy loans to small and medium enterprises that can capture a chunk of global markets. The present situation is haunting, import/export difference is 25Bn$, have to repay the world monetary institutions and there on the other hand where we are taking 50Bn$ in Chinese loans, spending that on subsidized public transport and other roads and infrastructure that has nothing to with the Chinese route, instead of spending that loan on ventures that can make us money and help repay the loans when they are due in 10 – 15 years, Govt is playing big gambles at the moment just to be able to show off its delusional good performance with completely unrelated numbers that try to conceal the whole story.
Exactly same though here. Ganjay media, court, anchors sb kuch khareed k “sb acha ha” ka gana suna rhay hain awam ko.
Are you even aware of initiative from Punjab govt. alone for IT market entrepreneurs ?
Increase of 5 billion $ in export is because of what exactly ? Your import bill will not increase if mega projects are underway ? What makes you happy actually ?
This dumb nation isn’t willing to pay a dime in taxes, wants every facility at door step, research how much tax even a common Indian has to pay. Tax net has expanded during this government’s regime but this is stubborn nation who is always bend over defying the writ of the government and institution and law.
Upar sy nechay tak choor hum as a nation discussion kartay lagta ha farishtay bol rahay hain. Qabar mai tangian 80 years old babay ka bhe koi asol nahe.
have heard about greece, italy and spain ? they have defaulted due to debt laden economies which failed to stay in balance and they now face more than 20% unemployment rate, 22% interest rate and are in complete economic disaster which isn’t going to reverse in as many as 40-50 years.. because they kept on lending, they hadn’t plan on putting the loans to sustainable projects that could pay back, they didn’t work on balancing import export deficit.. What you are saying is completely irrelevant, If Punjab govt is doing something to for IT entrepreneurs than believe me i know much more about it because i have been a part of it. But what does that to do with the national economic policy which is showing irrelevant numbers and trying to push the trade deficit numbers under the carpet. The import is growing and will keep on growing but the concerning part is export isn’t even steady but has fallen in last two years. Know your numbers first before you jump in to stamp other people biased of lunatic.
And mentioning of taxes, taxes have little to do with foreign trade bill. Its about enhancing export capabilities and putting the lent money on projects that can make money and pay that back. Everybody pays indirect tax in this country, they wealthy have family empires in multiple tax heaven islands, they have to set up an example and bring the assets to Pakistan, to show the world that if the leadership believes in Pakistan and is bringing their family assets back others should also think it to be a good idea. Its about policy structuring, priorities and right direction. If somebody is doing a lot of efforts with honesty and dedication but the direction and vision is not right then he is not doing any service to this country which has no shortage of challenges to face and more coming up.
Delusional? Just go through the numbers, increase in imports is in four groups mainly, machinery (mostly power projects), petroleum products, metal and heavy vehicles. Aside from these only other major increase in imports is palm oil. Its all right to imagine a lala land where govt magically builds money making plants and pays off loans but on ground few years back our industry was facing 12-14 hours loadshedding of both gas and electricity even in winter months. Atleast now govt is starting to provide basic necessities to industry through gas imports and electricity production through huge investment in infrastructure. Big challenges to increase exports still remain but whatever reforms or incentives any imaginary perfect govt had provided the industry it would have been futile without availability of gas, electricity. Its up to next govt now whoever makes it to utilize this infrastructure being built to increase exports.
wth! cant understand a bit
This report is biggest slap on the performance of government. Those who understand economics will know that this is what matters not any showoff projects. 34.33 fu..kin percent increase in deficit means we are down as a country 34.33 percent in just 1 year. That means more loans, more taxes, more inflation, more poverty etc. No wonder they want everybody to be illiterate so people don’t ever know what matters.