Pakistan’s Trade Deficit Reaches $20 Billion in First Eight Months of FY16-17

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.