ISLAMABAD: Trade deficit widened by 64.79 percent during the first 10 months (July-April) of the current fiscal year, 2021-22, and reached $39.264 billion compared to $23.826 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 April 2022, the country’s exports increased by 25.46 percent and remained $26.228 billion in the first 10 months of the current fiscal year, 2021-22, compared to $20.905 billion during the same period of 2020-21.

Imports increased by 46.41 percent during the first 10 months (July-April) of the current fiscal year and stood at $65.492 billion compared to $44.731 billion during the same period of the corresponding year, the PBS stated.

According to the PBS, the country’s trade deficit widened by 23.74 percent on year-on-year basis, jumping from $3.024 billion in April 2021 to $3.742 billion in April 2022.

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Imports registered an increase of 26.19 percent on year-on-year basis and jumped from $5.242 billion in April 2021 to $6.615 billion in April 2022.

Further, exports registered 29.53 percent growth on year-on-year basis and increased from $2.218 billion in April 2021 to $2.873 billion in April 2022.

According to the PBS data, trade deficit widened by 2.72 percent on month-on-month basis from $3.643 billion in March 2022 to $3.742 billion in April 2022.

Imports increased by 2.96 percent on month-on-month basis and remained $6.615 billion in April 2022 compared to $6.424 billion in March 2022.

Exports registered 3.27 percent growth on MoM basis and increased from $2.782 billion in March 2022 to $2.873 billion in April 2022.

Copyright Business Recorder, 2022