Exports down by 21% to $2.1b, imports up by 4.04% to $3.37b in July

KARACHI: The country’s exports have decreased by 21 per cent and trade deficit has widened by 35 per cent in the first month of newly-stating fiscal year 2015-16.

According to Pakistan Bureau of Statistics (PBS), exports from Pakistan to the world fell by 21% to $1.59 billion in July 2015 as compared to $2.01 billion of corresponding month of previous fiscal while exports registered 17% decline over exports worth $1.92 billion in June.

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Similarly, imports of goods in the country increased by 4.04% to $3.37 billion in July as against $4.39 billion of imports in June while due to lower international oil prices, Pakistan’s import bill dropped in July by 23.28%, as compared to $3.24 billion in July 2014.

As a result, dwindling exports from Pakistan broadened country’s trade deficit in July 2015 (FY16) by 34.62% to $1.77 billion as compared to $1.31 billion in same period previous fiscal.