Exports surge 27.64 percent to reach at $2.203bn in July 2011

ISLAMABAD: Exports from the country surged by 27.64 percent during the first month of the current fiscal year (2011-12) as against the exports of the same month of last year.

Exports from the country rose to $2.203 billion during July 2011 as against the exports of $1.726 billion recorded during July 2010, Federal Bureau of Statistics reported Friday.

On the other hand, imports into the country increased from $3.239 billion during July 2010 to $3.689 billion in July 2011, showing a positive growth of 13.89 percent, the data revealed.

However, trade deficit during the first month of the current fiscal year (2011-12) decreased 1.78 percent as compared to the deficit of the same month of last year.

Trade deficit during July 2011 stood at $1.486 billion against the deficit of $1.513 billion during July 2010.

As compared to the exports of $2.427 billion during June 2011, the exports in July 2011 decreased by 9.23 percent.

Similarly, imports during July 2011 also declined by 4.50 percent as compared to the imports of $3.863 billion during June 2011, the figures revealed.

It is pertinent to mention here that despite several domestic as well international challenges, Pakistan achieved the historic target of exports of over $24 billion during the last fiscal year of 2010-11.

Copyright APP (Associated Press of Pakistan), 2011