Pakistan’s exports in March surged to $2.773 billion at a growth rate of 17.3 percent compared to $2.365 billion observed in the corresponding period last year.
Conversely, provisional data from the Pakistan Bureau of Statistics (PBS) indicates that on a month-on-month basis, exports have dipped by 2 percent to $2.77 billion in March 2022, compared to $2.82 billion in the previous month.
The Adviser to the Prime Minister on Commerce and Investment, Abdul Razak Dawood tweeted that exports during July-March fiscal year 2021-2022 soared by 25 percent to $23.332 billion as compared to $18.688 billion in the corresponding period last year, indicating an increase of $4.644 billion.
Dawood congratulated the exporters for maintaining the momentum of exports, adding that “our exports are in line with our targets & we expect to achieve our yearly target”.
As per SBP figures, Pakistan’s current account deficit was $545 million in February, which was less than the $2.5 billion record loss in January but over 16 times larger than the same month last year.
The trade deficit widened by 82.2 percent during the first eight months (July-February) of the current fiscal year 2021-22 and reached $31.959 billion compared to $17.535 billion during the same period of 2020-21.
