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Pak exports up by 2.65% in 1st month of current FY

LAHORE: Exports from the country increased by 2.65 percent during the first month of the current fiscal year (2013-14) as against the exports of the same months of the last fiscal year.

Exports during July 2013 were recorded at $2.095 billion against the exports of $2.041 billion during July 2012, according to the data of Pakistan Bureau of Statistics.

On the other hand, imports into the country increased from $3.662 billion during July 2012 to $3.814 billion during July 2013, showing increase of 4.16 percent.

Based on the figures, the trade deficit during the first month of the current fiscal year was recorded at 1.719 billion during July 2013, showing an increase of 6.07 over the deficit of $1.621 billion recorded during the same month of the last year.

In terms of rupees, the exports from the country increased by 9.28 percent by going up from Rs.192,624 million during July 2012 to Rs. 210,491 million in July 2013.

Imports into the country in rupees term witnessed increase of 10.90 percent by going up from Rs.345,581 million in July 2012 to Rs.383,245 in July 2013, the data revealed.

Meanwhile, exports during July 2013 decreased by 4.64 percent when compared to the exports of $2.197 million during last month (June 2013).

The imports into the country also witnessed decrease of 3.19 percent in July when compared to the imports of $3.940 billion in June 2013.

Based on the figures, the trade deficit during July stood at $1.719 billion against the deficit of $1.743 billion in June 2013, showing negative growth of 1.35 percent.

In terms of rupees, exports decreased by 2.82 percent in July when compared to the exports of Rs.216,588 million in June 2013 whereas the imports into the country also decreased by 1.32 percent when compared to the imports of Rs.388.358 in June 2013, according to the PBS data.