ISLAMABAD: The country’s trade deficit has touched $ 25 billion during first half (July - December) of fiscal year 2021-22 as compared to $ 12.363 billon in corresponding period of 2020-21.

According to initial foreign trade figures, total imports stood at $39.912 billion during first six months of FY 2021-22 whereas exports were $15.125 billion, showing a difference of almost $25 billion.

Imports in December 2021 were $6.9 billion as compared to $ 5.005 billion in December 2020, showing a difference of about $2 billion.

According to Commerce Ministry, early indications are that the growth in imports has started to decrease. Imports during Dec 2021 decreased to $ 6.9 billion as compared to $ 7.9 billion in Nov 2021. This is a decrease of $ 1 billion. The import projection for Dec 2021 was $ 6.2 billion.

Jul-Nov trade deficit widens 111.74pc YoY: PBS

During Dec 2021, Pakistan’s exports increased by 16.7% to $2.761 billion as compared to $ 2.366 in Dec 2020. The Export target for the month was $2.8 billion.

During the first half of the current FY (Jul-Dec 2021), exports increased by 25% to $ 15.125 billion as compared to $ 12.110 billion during Jul-Dec 2020. The Export target for first half of this FY was $15 billion.

According to trade figures, exact trade deficit during July - December 2021-22 was $24.787 billion.

During July - December 2021-22 differences in imports was recorded at $15.429 billion to $ 39.912 billion as compared to $24.363 billion in corresponding period of 2020-21.

The Ministry maintained that further details on categories of export & import during Dec 2021 will be shared soon as these are compiled.

Trade deficit in December 2021 was recorded at $4.139 billon as compared to $2.639 billion in December 2020.

Copyright Business Recorder, 2022