recorder report
ISLAMABAD: Pakistan’s trade deficit rose to $ 26.55 billion during July-April period of the current fiscal year (2016-17), according to Pakistan Bureau of Statistics (PBS).
The trade deficit is 40.12 percent higher when compared to $ 18.95 billion for the same period a year before, creating serious concerns of balance of payment problem in the days ahead. A package of Rs 180 billion unveiled by the government for exporters four months ago, on January 10, 2017, has not been able to make much difference. The country’s exporters have been identifying high cost of energy, exchange rate, pending refunds and government’s borrowing as major factors for slide in exports. During a meeting of the National Assembly’s Standing Committee on Finance, exporters had stated that these factors have made their products uncompetitive in the international market with other regional players.
Provisional trade data released by the PBS on Wednesday showed a decline of 2.29 percent in exports during July-April 2017 after exports dipped to $ 16.918 billion from $ 17.314 billion for the same period of last fiscal year.
There was an increase of 19.88 percent in imports during the first 10 months of the current fiscal year after it increased to $ 43.473 billion from $36.265 billion for the same period of the last fiscal year.
Trade deficit of $ 3.193 billion during April 2017 was 51.69 percent higher from $ 2.105 billion for the same month a year ago. Imports have been $4.998 billion during the period under review, showing 30.8 percent increase as compared to $ 3.821 billion for April 2016 while exports have been $ 1.805 billion after a 5.19 percent increase from $ 1.716 billion for the same month a year before.
Trade deficit in April 2017 was $ 3.193 billion, which was 0.47 percent higher from $ 3.208 billion over the previous month of March 2017.
An increase of 0.22 percent was noted in exports after exports increased from $ 1.801 billion in March 2017 to $ 1.805 billion in April 2017. However, a decrease of 0.22 per cent in imports was recorded after imports declined from $ 5.009 billion in March 2017 to $ 4.998 billion in April 2017.
