ISLAMABAD: Pakistan’s trade deficit widened by 28.89 per cent on a month-on-month basis to $3.53 billion in August 2022 when compared to $2.739 billion in July 2022, says Pakistan Bureau of Statistics (PBS).
The monthly data released by the Bureau noted that the country’s trade deficit narrowed by 17.13 per cent during the first two months (July-August) of the current fiscal year and stood at $6.269 billion compared to $7.565 billion during the same period of last fiscal year. Exports increased by 3.75 per cent to $4.759 billion during July-August 2022-23 compared to $4.587 billion in the corresponding period of the last fiscal year.
The imports declined by 9.25 per cent to $11.02 billion during the first two months of the current fiscal year as compared with $12.152 billion in the same period of the last fiscal year. The exports recorded 11.07 per cent increased to $2.504 billion in August 2022 when compared with $2.254 billion in July 2022. Import increased by 20.84 per cent to $6.034 billion in August 2022 when compared with $4.993 billion in July 2022.
The trade deficit narrowed by 18.49 per cent on a year-on-year basis to $3.530 billion in August 2022 compared to $4.330 billion in August 2021. Imports declined by 8.26 per cent on a YoY basis and remained $6.034 billion in August 2022 compared to $6.577 billion in August 2021. Exports increased by 11.44 per cent on a YoY basis and remained $2.504 billion in August 2022 compared to $2.247 billion in August 2021.
Copyright Business Recorder, 2022