Pakistan’s trade deficit widened by 57.85 percent during the first eleven months (July-May) of the current fiscal year, 2021-22, and reached $43.334 billion compared to $27.452 billion during the same period of 2020-21, revealed the Pakistan Bureau of Statistics (PBS) data. This is the highest ever trade deficit for the period under review.
According to the PBS monthly summary on foreign trade statistics for May 2022, the country’s exports increased by 27.78 percent and stood at $28.848 billion in the first eleven months of the current fiscal year, 2021-22, compared to $22.576 billion during the same period of 2020-21.
Imports increased by 44.28 percent during the first eleven months (July-May) of the current fiscal year and stood at $72.182 billion compared to $50.028 billion during the same period of the corresponding year, the PBS stated.
According to the PBS, the country’s trade deficit widened by 11.50 percent on a year-on-year basis, jumping from $3.626 billion in May 2021 to $4.043 billion in May 2022.
Imports registered an increase of 25.43 percent on a year-on-year basis and jumped from $5.297 billion in May 2021 to $6.644 billion in May 2022.
Further, exports registered 55.66 percent growth on a year-on-year basis and increased from $1.671 billion in May 2021 to $2.601 billion in May 2022.
According to the PBS data, the trade deficit widened by 6.90 percent on a month-on-month (MoM) basis from $3.782 billion in April 2022 to $4.043 billion in May 2022.
Imports decreased by 0.52 percent on a month-on-month basis and remained $6.644 billion in May 2022 compared to $6.679 billion in April 2022.
Exports registered negative growth on MoM basis and decreased from $2.897 billion in April 2022 to $2.601 billion in May 2022.
