AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)
Print Print 2021-09-02

August trade deficit widens massive 133pc YoY

  • Imports of first two months (July-August) of 2021-22 reach $11.911 billion
Published September 2, 2021 Updated September 3, 2021

ISLAMABAD: The country’s trade deficit has ballooned by 133 per cent to $ 4.055 billion in August 2021 from $ 1.740 billion in August 2020.

According to provisional trade figures, imports of first two months (July-August) of 2021-22 reached $ 11.911 billion as compared to $ 6.994 billion in the corresponding period of 2020-21, posting a growth of over 70 per cent.

Last month, Prime Minister Imran Khan had directed the Commerce Ministry to check the increase in the import of non-essential items.

Exports constituted a growth of over 28 per cent to $ 4.597 billion during the first two months, i.e. July-August 2021-22, as compared to $ 3.581 billion in the same period of FY 2020-21.

July trade deficit widens by whopping 85.53pc YoY

Exports posted a negative growth of over 3.5 per cent to $ 2.257 billion in August 2021 as compared to 2.340 billion in July 2021, and rose by 42.5 percent against August 2020 with $ 1.584 billion.

Imports posted a growth 90 per cent to $ 6.313 billion in August 2021 as compared to $ 3.324 billion in the same period last year. “Our exports have grown by 43 per cent to $ 2.257 billion as compared to $ 1.584 billion. Growth was affected by shipments ‘delays due to rains,” said Razak Dawood, Advisor to Prime Minister on Commerce and Investment.

Commerce Ministry says that exports for August 2021 are short by $ 143 million of monthly target of $ 2.4 billion for the month. The main reason for the increase in imports is the hike in international oil prices in August, import of commodities, raw materials and machinery.

However, the ministry is analysing the data.

Copyright Business Recorder, 2021

Comments

Comments are closed.