ISLAMABAD – Pakistan’s trade deficit has swelled by 18.2 percent to $8.14 billion in July-December during the current financial year compared to $6.89 billion in the same period of the last fiscal year.
According to data released by the Federal Bureau of Statistics on Tuesday, exports in the first half of the current fiscal year jumped by 20.63 percent to $10.97 billion from $9.09 billion during the same period’s last fiscal. Imports during July-December were up by 19.58 percent to $19.12 billion from $15.99 billion.
The country’s exports showed a growth of 19.69 percent and aggregated to $2.12 billion, up from November’s exports of $ 1.77 billion. Imports jumped by 20.03 percent to $3.75 billion from $3.12 billion in the last month.
According to official sources, the increase in remittances and foreign assistance provided the needed cushion against the current account deficit, which was recorded at $504 million during the July-November period of the current fiscal year. Exports are projected to increase to $19.9 billion from the last fiscal year’s exports of $19.2 billion.
