Trade deficit up 105% in four months of FY22   

ISLAMABAD: Pakistan’s trade deficit recorded an increase of 105 per cent in the first four months of the current fiscal year, data released by the Pakistan Bureau of Statistics (PBS) showed.

According to provisional figures, trade deficit widened to $15.61 billion during July-October of fiscal year 2021-22.

Also Read: October 2021 sees highest-ever monthly exports: Shaukat Tarin  

Exports grew by 24.71pc to $9.44bn during July-October from $7.57bn during the corresponding period of last year. Imports grew by 65.15pc to $25.06bn against $15.17bn over last year’s same period.

In October 2021, exports increased by 1.58pc to $2.44bn as compared to $2.41bn in September 2021. Whereas, import decreased to $6.33bn from $6.59bn the previous month.

Also Read: Pakistan’s services exports grow 42% in 3 months

The import bill in Oct 2021 ballooned to $6.334bn from $3.890bn over the corresponding month of last year, showing an increase of 62.83pc. However, exports edged up to $2.448bn from last year’s $2.101bn.

October 2021 posted a trade deficit of $3.88bn, showing an increase of 117pc.