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34pc surge: Trade deficit shoots up to $10.45b against $7.75b last year

34pc surge: Trade deficit shoots up to $10.45b against $7.75b last year

ISLAMABAD: Trade deficit widened to $10.45 billion during five months of (July-November) 2014 against $7.75 billion over the corresponding period of last year, soaring up 34.78 percent.

According to the statics of the Pakistan Bureau of Statistics (PBS), on monthly basis, however, the trade deficit decreased 10.30 percent in November over the corresponding month of last year.

Since July 2014, imports has rebounded and witnessed a consistent growth.

In July-Nov 2014, imports reached $20.37 billion against $18.11 billion over the corresponding period of last year, reflecting an increase of 12.50 percent.

But a negative growth of 0.58 per cent was witnessed in the month of November 2014 over the corresponding month of last year.

Last year, imports witnessed a marginal growth of 0.36 per cent to $45.11 billion in July-June 2014 from $44.95 billion over the corresponding months of last year.

Contrary to this, exports witnessed a negative growth of 4.19 per cent, as its value fell to $9.92 billion in July-Nov period this year as against $10.35 billion over the corresponding months of last year.

But exports witnessed a growth of 9.47 per cent in November 2014 from a year ago sending a hope of revival in exports proceeds in the next few months.