Pakistan Trade Deficit
Pakistan: Trade deficit widens sharply in ten months
Islamabad: Pakistan's trade gap widened 64.8 percent to touch a massive $39.26 billion from July through April 2022, media reports said on Sunday.
The figures show pressure is mounting on the country’s external balances with each passing day.
This deficit (outflow from the economy) is much higher than what our Pakistanis working abroad are sending back (remittances) to their families each year, reports The News International.
This deficit would pressure our balance of payment position in the months to come, resulting in further depreciation of rupee that may stoke inflation, forcing the central bank to further tighten its monetary policy, the newspaper reported.
During the first ten months of fiscal year 2021-22, imports surged to a whopping $65.5 billion, while exports clocked in at $26.23 billion, the Pakistan Bureau of Statistics (PBS) reported on Friday.
In the same period of the last fiscal, imports stood at $44.73 billion and exports at $20.91 billion. This translates into a 25.46 percent growth in exports and a 46.4 percent increase in imports.
The trade gap has widened 64.8 percent, or $15.43 billion, from the corresponding period of the last fiscal year.
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