ISLAMABAD: Pakistan’s trade deficit widened by 111.74 percent to $20.590 billion during the first five months (July-November) of current fiscal year 2021-22 as compared to $9.724 billion during the same period of 2020-21, said the Pakistan Bureau of Statistics (PBS).

Exports witnessed 26.68 percent growth during July-November 2021-22 and remained $12.344 billion compared to $9.744 billion during the same period of 2020-21.

The country’s trade deficit widened by 133.99 percent on a year-on-year basis and stood at $4.963 billion in November 2021 compared to $2.121 billion in November 2020.

Further, the data revealed that the country’s exports witnessed 32.84 percent growth on year-on-year basis in November 2021 and stood at $2.884 billion compared to $2.171 billion in November 2020.

Imports witnessed 82.83 percent growth on year-on-year basis in November 2021 and stood at $7.847 billion compared to $4.292 billion in November 2020.

The data further revealed that the trade deficit on month-on-month basis widened by 27.01 percent to $4.963 billion in November 2021 compared to $3.908 billion in October 2021.

The country’s exports registered 17.04 percent growth on month-on-month basis and stood at $2.884 billion in November 2021 compared to $2.464 billion in October 2021.

Imports increased by 23.15 percent in November 2021 and stood at $7.847 billion compared to $6.372 billion in October 2021.

The trade figures were slightly different than what the Adviser to the Prime Minister on Commerce, Razak Dawood, shared with the media.

According to Commerce Advisor, exports during November 2021 increased by 33 percent to a historic monthly high of $2.903 billion as compared to $2.174 billion during the corresponding period of last year. He said Commerce Ministry’s target was $2.6 billion.

Dawood further claimed that exports posted a growth of 27 percent to $12.365 billion during Jul-November 2021-22, as compared to $9.747 billion during the same period of 2020-21.

Copyright Business Recorder, 2021