Pakistan’s Trade Deficit Widens by Over 32% in December 2020

Pakistan’s trade deficit widened by 32.04 percent to $2.683 billion in December 2020 as compared to $2.032 billion in December 2019, data released by the Pakistan Bureau of Statistics (PBS) showed on Thursday.

PBS released trade figures showing that country’s imports remained $5.035 billion in December 2020 compared to $4.020 billion in December 2019, registering a remarkable 25.25 percent growth.

The country’s exports witnessed 18.31 percent growth and remained $2.352 billion in December 2020 compared to $1.988 billion in December 2019.

On a month-over-month comparison, the data revealed that Pakistan’s trade deficit widened by 25.55 percent to $2.683 billion in December 2020 compared to $2.137 billion in November 2020.

The country’s imports remained $5.035 billion in December 2020 compared to $4.311 billion in November 2020, registering 16.79 percent growth.

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Exports witnessed 8.19 percent growth and remained $2.352 billion in December 2020 compared to $2.174 billion in November 2020.

On a half-yearly basis, the data showed that the trade deficit for Pakistan widened by 6.44 percent to $12.423 billion in July-December 2020, compared to $11.671 billion in July-December 2019.

Trade figures show that country’s imports remained $24.521 billion in July-December 2020 compared to $23.195 billion in July-December 2019, registering a 5.72 percent growth.

Pakistan’s exports witnessed 4.98 percent growth and remained $12.098 billion in July-December 2020 compared to $11.524 billion in July-December 2019.