Trade deficit rose by 28.89pc in August 2022, shares PBS data
- By Web Desk -
- Sep 02, 2022
ISLAMABAD: The Pakistan Bureau of Statistics (PBS) on Friday shared that a 28.89 percent increase in trade deficit is seen during August 2022 as compared to July 2022 with both exports and imports also witnessing a hike, ARY NEWS reported.
According to the PBS data, the exports in August remained at US$2,504 million as compared to the imports of US$6,034 million, showing a trade deficit of US$3,530 million, a 28.89 percent hike as compared to July 2022 when the exports remained at US$2,254 million and imports at US$4,993 million.
The trade deficit in July stood at US$2,739 million.
In cumulative data of July and August 2022, the trade deficit declined by 17.03 percent as compared to the same months of FY 2021-22 after it remained at US$6,269 million. The exports rose by 3.75 percent while imports declined by 9.25 percent in the first two months of FY 2022-23.
On Thursday, the Pakistan Bureau of Statistics (PBS) announced an increase in inflation by 2.4 percent in August 2022 as compared to the last month.
According to the PBS, the general inflation increased by 27.3 percent on year-on-year basis in August 2022 as compared to an increase of 24.9 in the previous month and 8.4 percent in August 2021.
On month-on-month basis, it increased by 2.4 percent in August 2022 as compared to an increase of 4.3 percent in the previous month and an increase of 0.6 percent in August 2021.