Exports increase 2.11pc in 5 months, 7.67pc in November

ISLAMABAD: The exports increased by 2.11 percent during the first five months of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics reported Friday.

The exports during July-November (2020-21) were recorded at $9.737 billion against the exports of $9.536 billion in July-November (2019-20), showing growth of 2.11 percent according to PBS data.

The imports into the country during the period under review also increased 1.29 percent by going up from $19.175 billion last year to $19.422 billion during the current fiscal year.

Based on the figures, there has been slight increase of 4.8 percent in the trade deficit during the period under review as it was recorded at $9.685 billion compared to the deficit of $9.639 billion during last year.

Meanwhile, on year-on-year basis, the exports from the country increased by 7.67 percent during the month of November 2020 compared to the same month of last year.

The exports in November 2020 were recorded at $2.161 billion against the exports of $2.007 billion in November 2019.

Imports into the country also increased by 7.77 percent by growing from $3.924 billion in November last year to $4.229 billion in November 2020, the data revealed.

On month-on-month basis, the exports from the country increased by 2.71 percent in November 2020 when compared to the exports of $2.104 billion in October.

The imports into the country also increased by 8.24 percent in November 2020 when compared to the imports of $3.907 billion in October 2020.

Meanwhile, the services trade deficit during the first four months of the current fiscal year declined by 38.18 percent as compared to the corresponding period of last year.

The Services Trade Deficit during July-October (2020-21) was recorded at $0.785 billion against the deficit of $172.02 billion during July-October (2019-20), the data revealed.