Pakistan's exports rise over 7pc in three quarters of FY20-21

ISLAMABAD: The government’s business-friendly policies bearing fruit as the country’s exports increased by 7.12 per cent during the first three quarters of the current fiscal year (2020-21) as compared to the corresponding period of the last year, ARY News reported.

According to the Pakistan Bureau of Statistics (PBS), the exports from the country during July-March (2020-21) were recorded at $18.685 billion against the exports of $17.443 billion during July-March (2019-20).

The imports during the period under review also increased by 13.57 per cent by growing from $34.791 billion last year to $39.512 billion during the first three quarters of the current fiscal year.

Read More: Pakistan’s exports grow to $2.3b in March – ‘highest’ in ten years

Based on the figures, the country’s trade deficit increased by 20.05 per cent during the first three quarters as compared to the corresponding period of last year.

The trade deficit during the period was recorded at $20.827 billion against the deficit of $17.348 billion last year.

Meanwhile, on year-on-year basis, the exports of the country increased by 30.44 percent during the month of March 2021 as compared to the exports during the same month in last year.

The exports during March 2021 were recorded at $2.361 billion against the exports of $1.810 billion in March 2020, the data revealed.

The imports into the country increased from $3.308 billion in March 2020 to $5.632 billion in March 2021, showing growth of 70.25 percent.