Abdul Razak Dawood says the country's trade balance continues to improve
Pakistan’s foreign reserves currently stands at United States Dollar (USD) 17,387.5 million by March 27, shows the SBP data.
In the international market, the price of per ounce gold slashed by $26
The mobile phone imports into the country witnessed sharp decline of 25.06 percent in January 2019 when compared to the imports of the same month of the last year.
Economic analysts said that higher regulatory duty on non-essential items had resulted in curtailing influx of imported goods.
The reserves held by the SBP are currently standing at $6.90bn whereas the forex reserves available with the commercial banks were at $6.58bn level.
ISLAMABAD: Government’s policy measures have resulted in shrinking of trade deficit, decline in imports and increase in exports which augurs well for overall balance of payment of the country. The trade deficit that stood at US$ 17.7 Billion in July- December 2017 has shrunk by 5 percent to US$16.8 billion in the corresponding period in 2018, the Press Information Department reported on Friday. The overall imports from July-December 2018 have shrunk by over 2 percent from US$ 28.7 billion in July – December 2017 to US$…
ISLAMABAD: The exports of sports goods from the country witnessed decrease of 5.85 percent during the first month of the current fiscal year against the exports of same month of last year, Pakistan Bureau of Statistics (PBS) reported. The country exported sports goods worth $21.898 million during 2018 against the trade of $23.258 million during July 2017, showing negative growth of 5.85 percent, the PBS data revealed. The major contributor for negative growth in sports’ goods was trade of gloves, which declined by…
CALIFORNIA: After a surprisingly weak growth forecast in this week’s earnings report, Facebook’s stock price dropped 19 percent. The decline, which erased about $120 billion in market value, is the largest one-day drop in the history of the American stock market. Facebook shares fell as much as 23 percent in after-hours trading when Facebook reported its second-quarter earnings. While revenue increased 42 percent in the quarter, it still missed analysts’ projections. More worrisome was the number of daily active users,…