ISLAMABAD: The exports from the country witnessed positive trend for the second consecutive month and grew by 11.80 percent during the first two months of the current fiscal year compared to the corresponding period of the last year.
The exports from the country during July-August (2017-18) were recorded at $3.497 billion against the exports of $3.128 billion during July-August (2016-17), showing growth of 11.8 percent, according to the latest data of Pakistan Bureau of Statistics (PBS). The imports into the country also increased by 24.85 percent by going up from $7.839 during the first two months of last fiscal year to $9.787 billion during the current year.
Based on the figures, the trade deficit during the first two months of the current fiscal year was recorded at $6.290 billion which indicated an increase of 33.52 percent when compared to the deficit of $4.711 billion during the same period of last year.
Meanwhile, on year-on-year basis, the country’s exports increased by 12.89 percent by going up from $1.653 billion in August 2016 to $1.866 billion in August 2017.
Imports into the country during August 2017 also increased by 15.08 percent from $4.303 billion last year to $4.952 billion during the current fiscal year.
Based on the figures, the year-on-year trade deficit increased by 16.45 percent as it was recorded at $3.086 billion in August 2017 compared to the deficit of $2.650 billion in August 2016.
On month-on-month basis, the exports from the country increased by 14.41 percent when compared to the exports of $1.631 during July 2017.
On the other hand, the imports into the country also increased by 2.41 percent in August 2017 when compared to the imports of $4.835 billion in July 2017, the data revealed.