ISLAMABAD: The constant decline in exports and increase in imports have widened Pakistan’s trade deficit by 15.42 per cent $16.11 billion during July-March of current fiscal year as compared $13.96 billion deficit recorded during the corresponding period of the previous year.
According to Pakistan Bureau of Statistics (PBS), the exports are continuously declining during ongoing fiscal year as against the ever-raising imports. Exports decline by 5.95 per cent to $17.94 billion during July-March of FY2015 from $19.07 billion of the same period of FY2014. However, imports surged by 3.08 percent to $34.05 billion during July-March of FY2015 from $33.03 billion of the same period of FY2014. Therefore, the trade deficit was registered at $16.11 billion during the period under review.
As per the PBS data, exports registered an increase of 2.55 per cent as country exported goods worth $1.93 billion in March 2015 as against $1.88 billion of its previous month of February 2015. Meanwhile, the imports recorded growth of 5.14 per cent, as imports stood at $3.52 billion in March 2015 as compared to $3.35 billion of the February 2015. Therefore, the trade deficit showed decline of 8.48 per cent, as it was recorded at $1.59 billion in March 2015 as against $1.46 billion of February 2015.
Meanwhile, the Pakistan Bureau of Statistics showed that exports went down by 13.44 percent in March 2015 as against exports of the same month of the previous year. Exports were recorded at $1.39 billion in March 2015 as compared to $2.23 billion of March 2014. Similarly, the imports recorded decrease of 3.01 percent, as imports were registered at $3.52 billion in March 2015 against $3.63 billion of March 2014. Therefore, the trade imbalance was recorded at $1.59 million in March 2015 as compared to $1.4 billion of March 2014, showing an increase of 13.69 percent.
