The country’s trade deficit reached an all-time high as it widened by 64.79 percent during the first ten months (July-April) of the current fiscal year, 2021-22.
The trade deficit reached $39.264 billion compared to $23.826 billion during the same period of 2020-21, according to the data released by Pakistan Bureau of Statistics (PBS).
According to the PBS monthly summary on foreign trade statistics for April 2022, the country’s exports increased by 25.46 percent and stood at a record $26.228 billion in the first ten months of the current fiscal year, 2021-22, compared to $20.905 billion during the same period last year.
Imports increased by 46.41 percent during the first ten months (July-April) of the current fiscal year and stood at $65.492 billion compared to $44.731 billion during the same period of the previous year, the PBS data shows.
According to the PBS, the country’s trade deficit widened by 23.74 percent on a year-on-year basis, jumping from $3.024 billion in April 2021 to $3.742 billion in April 2022.
Imports registered an increase of 26.19 percent on a year-on-year basis and jumped from $5.242 billion in April 2021 to $6.615 billion in April 2022.
Further, exports registered 29.53 percent growth on a year-on-year basis and increased from $2.218 billion in April 2021 to $2.873 billion in April 2022.
According to the PBS data, the trade deficit widened by 2.72 percent on a month-on-month basis from $3.643 billion in March 2022 to $3.742 billion in April 2022.
Imports increased by 2.96 percent on a month-on-month (MoM) basis and remained $6.615 billion in April 2022 compared to $6.424 billion in March 2022.
Exports registered 3.27 percent growth on a MoM basis and increased from $2.782 billion in March 2022 to $2.873 billion in April 2022.
