A.Rafay
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ISLAMABAD: The Pakistani economy has racked up $8.168 billion of goods trade deficit (an excess of imports over exports) during the first five months of the current fiscal. However, there has been a decline of 9.93 percent since the same period last year when the deficit stood at $9.069 billion, the Pakistan Bureau of Statistics (PBS) reported on Wednesday.
According to the PBS monthly trade bulletin, Pakistan exported goods worth $10.082 billion while imports stood at $18.25 billion from July-November 2012-13. In the corresponding period of 2011-12, exports stood at $9.348 billion and imports at $18.417 billion.
During this five-month period, cumulative exports rose by 7.85 percent and imports dipped by 0.91 percent, compared to the same period last year. It was encouraging to see Pakistans exports exceed its imports. Economic experts say this provides a good cushion on the external front, especially in the balance of payments, currency stability and other macroeconomic indicators.
Moreover, data shows that in November 2012, $1.896 billion worth of products were exported while in November 2011 the figure was $1.533 billion, which depicted 23.68 percent growth in the sale of goods abroad.
Imports stood at $3.609 billion during November 2012 while in they were $3.693 billion in November 2011 thus registering a decline of 2.33 percent. During the same month, the export-import gap fell by 20.8 percent to $1.711 billion over $2.16 billion recorded in the same month last year.
Comparing the trade performance of November 2012 with that of October 2012, exports registered a decline of 5.95 percent and imports declined by 4.83 percent in November 2012 over October 2012, as exports in October 2012 stood at $2.016 billion and imports at $3.79 billion.
In the last fiscal, the economy accumulated a trade deficit of $21.27 billion, which was 36.32 percent more than what was recorded in the previous fiscal. Exports during FY12 totalled $23.64 billion, compared with $24.81 billion in the same period last year. Furthermore, imports rose by 11.13 percent to $44.91 billion from $40.41 billion a year ago.
Pakistan
According to the PBS monthly trade bulletin, Pakistan exported goods worth $10.082 billion while imports stood at $18.25 billion from July-November 2012-13. In the corresponding period of 2011-12, exports stood at $9.348 billion and imports at $18.417 billion.
During this five-month period, cumulative exports rose by 7.85 percent and imports dipped by 0.91 percent, compared to the same period last year. It was encouraging to see Pakistans exports exceed its imports. Economic experts say this provides a good cushion on the external front, especially in the balance of payments, currency stability and other macroeconomic indicators.
Moreover, data shows that in November 2012, $1.896 billion worth of products were exported while in November 2011 the figure was $1.533 billion, which depicted 23.68 percent growth in the sale of goods abroad.
Imports stood at $3.609 billion during November 2012 while in they were $3.693 billion in November 2011 thus registering a decline of 2.33 percent. During the same month, the export-import gap fell by 20.8 percent to $1.711 billion over $2.16 billion recorded in the same month last year.
Comparing the trade performance of November 2012 with that of October 2012, exports registered a decline of 5.95 percent and imports declined by 4.83 percent in November 2012 over October 2012, as exports in October 2012 stood at $2.016 billion and imports at $3.79 billion.
In the last fiscal, the economy accumulated a trade deficit of $21.27 billion, which was 36.32 percent more than what was recorded in the previous fiscal. Exports during FY12 totalled $23.64 billion, compared with $24.81 billion in the same period last year. Furthermore, imports rose by 11.13 percent to $44.91 billion from $40.41 billion a year ago.
Pakistan
