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ISLAMABAD: Trade deficit widened by 55.29 per cent during the fiscal year 2021-22, and reached $48.259 billion compared to $31.076 billion during the same period of 2020-21, revealed the Pakistan Bureau of Statistics (PBS) data.

According to the PBS monthly summary on foreign trade statistics for June 2022, the country’s exports increased by 25.51 per cent and remained $31.760 billion in the fiscal year 2021-22, compared to $25.304 billion during the same period of 2020-21.

Imports increased by 41.93 per cent during the fiscal year and stood at $80.019 billion compared to $56.380 billion during the same period of the previous year, the PBS stated.

According to the PBS, the country’s trade deficit widened by 33.41 per cent on a year-on-year basis, jumping from $3.624 billion in June 2021 to $4.835 billion in June 2022.

July-May trade deficit widens 57.85pc to $43.334bn YoY

Imports registered an increase of 21.57 per cent on a year-on-year basis and jumped from $6.352 billion in June 2021 to $7.722 billion in June 2022.

Further, exports registered 5.83 per cent growth on a year-on-year basis and increased from $2.758 billion in June 2021 to $2.887 billion in June 2022.

According to the PBS data, the trade deficit widened by 16.48 per cent on a month-on-month basis from $4.151 billion in May 2022 to $4.835 billion in June 2022.

Imports increased by 13.94 per cent on a month-on-month basis and remained $7.722 billion in June 2022, compared to $6.777 billion in May 2022.

Exports increased by 9.94 percent on month-on-month basis and remained $2.887 billion in June 2022, compared to $2.626 billion in May 2022.

Copyright Business Recorder, 2022

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