Pakistan’s trade deficit has jumped to all-time high at $39.264 billion in the last 10 months (July-April), showing an increase of 64.79 per cent against the deficit of $23.826 billion recorded during July- April (2020-21), according to a data issued by the Pakistan Bureau of Statistics (PBS).
High cost of oil in the international market and the rise in prices global commodities contributed to the inflated imports bill and trade deficit.
According to the PBS, the imports during the months under review also went up by 46.41 per cent by growing from $44.731 billion last year to $65.492 billion in July- April (2021-22).
The imports into the country increased from $5.242 billion in April 2021 to $6.615 billion in April 2022, showing growth of 26.19 per cent, the PBS data revealed.
It said that the exports from the country witnessed an increase of 25.46 per cent during the first 10 months of the current fiscal year (2021-22) as compared to the corresponding months of last year, Pakistan Bureau of Statistics (PBS) reported.
According to PBS data, the exports from the country were recorded at $26.228 billion during July-April (2021-22) against the exports of $20.905 billion recorded during July-April (2020-21), showing growth of 25.46 per cent.
Meanwhile, on year-on-year basis, the exports of the country increased by 29.53 per cent during April 2022 as compared to the exports of same month of last year.
The exports during April 2022 were recorded at $2.873 billion against the exports of $2.218 billion in April 2021, the data revealed.
On month-on-month basis, the exports from the country witnessed growth of 3.27 percent during April 2022 as compared to the exports of $2.782 billion recorded during March 2022.
On the other hand, the imports into the country during April 2022 witnessed increase of 2.96 per cent as compared to the imports of $6.425 billion in March 2022, according to the PBS data.
