The trade deficit of Pakistan during first four months of current fiscal year declined by 12.15 as compared to July-October 2014-15.
The deficit decreased from US$8.763 billion in July-October (2014-15) to $7.698 billion in July-October (2015-16), according to a data revealed by Pakistan Bureau of Statistics (PBS).
The exports of the country decreased by 13.42 percent from $7.951 billion in first four months of current fiscal year to $6.884 billion in same period of last year. The imports into the country during the period also witnessed a decrease of 12.76 percent which were recorded $14.582 billion in July-October (2015-16) as compared to that of $16.714 billion in same period of last year.
Regarding consistent decline in exports of Pakistan during the last few years, a World Bank official in Pakistan, Muhammad Waheed said that Pakistan’s exports had decreased in value in recent times, but interesting part was that Pakistan had exported more goods.
He attributed the decrease in Pakistan’s exports to low international prices due to which Pakistan export value had decreased. In addition, he said recent large scale manufacturing numbers were very encouraging which means Pakistan was moving towards higher economic activities.
On month-on-month basis the balance of trade was recorded at $2.197 billion in October 2015 as compared to that of $1.753 billion in September 2015, thus showing an increase of 25.33 percent in trade deficit.
The exports decreased by 0.17 percent from $1.732 billion in September to $1.729 billion in October while the imports increased by 12.65 percent from $3.485 billion in September to $3.926 billion in October.
Similarly on year-on-year basis the trade deficit contracted by 4.02 percent in October 2015 as compared to October 2014 as the exports went down by 11.38 percent while the imports were declined by 7.41 percent. The trade deficit in October 2015 was recorded at $2.197 billion in October 2015 while the deficit in same month of last year was recorded at $2.289 billion.
