Pakistan's trade deficit balloons to whopping $7.49bn

ISLAMABAD: Pakistan’s trade deficit widened to a whopping $7.49 billion in the first two months of the current fiscal year (FY2021-22), data released by the Pakistan Bureau of Statistics (PBS) showed on Monday.

According to figures, the country recorded an increase of 119.94 per cent in its trade deficit during July-August of FY2021-22 when compared to last year’s corresponding period.

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Exports increased 27.59 per cent to $4.57bn during July-August from $3.58bn during the corresponding period of last year.

Imports grew by 72.59pc to $12.6bn during the first two months of the ongoing financial year from $6.99bn recorded during last year’s same period.

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Exports fell 4.53pc to $2.23bn in August 2021 from $2.34bn in July 2021.

However, imports increased by 15.39pc to $6.46bn in August 2021 from $5.60bn recorded last month.