Staff Report
ISLAMABAD: Pakistan’s trade deficit on Thursday has widened by 82.2 per cent during the first eight months (July-February) of the current fiscal year 2021-22.
The data released by the Pakistan Bureau of Statistics (PBS) said the trade deficit has reached a whopping $31.959 billion compared to $17.535 billion during the same period of 2020-21.
According to the PBS monthly summary on foreign trade statistics for February 2022, the country’s exports increased by 25.8 per cent and remained $20.547 billion in the first eight months of the current fiscal year 2021-22.
Imports during the first eight months (July-February) of the current fiscal year and stood at $52.506 billion, while exports during the same period remained $20.574, showing an increase of 25.08 per cent, the PBS stated. According to the PBS, the country’s trade deficit widened by 22.1 per cent on year-on-year basis, jumping from $2.533 billion in February 2021 to $3.095 billion in February 2022, showing an increase of 9.69pc.
Imports declined by 2.2 per cent on a month-on-month basis and remained $5.903 billion in February 2022 compared to $6.041 billion in January 2022.
