The country’s exports further declined by 3.21 per cent to $11.685 billion in July-January 2016-17, while imports touched all time high at $29.113 billion or 13.65 per cent during the period.
According to the data released by Pakistan Bureau of Statistics (PBS) here on Thursday, the country’s export stood at $11.685 billion in last seven months of the current fiscal year compared to $12.073 billion down by $2.55 billion, while imports of the country touched $29.113 billion compared to $25.617 billion in the same period last year.
The trade deficit further swelled up to $17.428 billion in July-Jan 2016-17 up 28.68 per cent compared to $13.544 billion in the same period last year. It surged by 75.17 per cent in January 2017 on MOM basis, while 28.68 per cent up on YOY basis.
“There is minor impact of the federal government package of Rs 180 billion announced for the textile industries in January 2017 as the exports have gone up 3.07 per cent,” an analyst said. Meanwhile the rising import bills, which had jumped to $17.428 billion around 140 per cent up of the total exports of the country, is not a good sign for country’s economy, he added.
“The exports figures are improving since last October 2016,” the analyst said. This time the federal government has taken right decision to improve cotton import which is main demand of All Pakistan Textile Mills Association (APTMA), he added.
On Year on Year basis, the goods exports are stood at $1.780 billion in January 2016 up by 3.07 per cent compared to $1.727 billion in December 2016, meanwhile on Month on Month basis, the goods exports up by 0.59 per cent compared to the exports of $1.767 billion in January 2016, the data said.
The analyst said all economic indicators of the country have been improved in last seven months except the exports and Foreign Direct Investment (FDI) while we were looking 2017 ‘the best year of the country’.
