Pakistan’s trade deficit falls by 30% to $11.64b

[WarKa DaNG]

IMO govt should remove duties and taxes on hybrid vehicles

 

[Pakistan Space Agency]

Pakistan’s trade deficit falls by 30% to $11.64b
SAMAA | Digital - Posted: Jan 5, 2020 | Last Updated: 21 hours ago

FILE photo: Abdul Razak Dawood.

Trade deficit of Pakistan fell by 30% to $11.64 billion in the first half of fiscal year 2019-20, according to stats shared by Adviser to PM on Commerce Abdul Razak Dawood on Sunday.

This was because of a decline in imports and increasing exports of the country, according to the statistics.

The export volume reached $11.54 billion recording an increase of 3.21% from July 2019 to December 2019.

During this period, the exports of rice increased by 56%, meat by 52% and vegetables by 41%.

The export of seafood recorded an increase of 23%, while silk, synthetic textile, football and leather exports grew by 13% each.

Imports of the country dropped by 17% to $23.18 billion. It resulted in shrinking trade deficit to $11.64 billion.

However, the imports of cellular phones increased by 69%, electrical appliances by 48% and petroleum products and gas by 34%.

Imports from India decreased by 64% over the past 6 months, according to the stats.

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https://www.samaa.tv/economy/2020/01/pakistans-trade-deficit-falls-by-30-to-11-64b/

What the report doesn't mention is that in one month period (from November 2019 to December 2019), exports decreased, imports increased as well as the trade deficit also increased.

"On a month-on-month basis, exports, which stood at slightly below $2 billion in December 2019, were $21 million or 1% less than the previous month.

Imports marginally increased to $3.95 billion on a month-on-month basis. The month-on-month trade deficit was up by $31 million or 1.6% to $1.96 billion, according to the PBS."

https://tribune.com.pk/story/2131727/2-pakistans-trade-deficit-contracts-30-11-6b/?amp=1

 

[fisher1]

Fooling of the nation must continue.

Comparison with same government rather than with previous government.
Imports have been banned or reduced for important items that gave people jobs and industries shut down.

Why of course trade deficit reduced.

If you see inflation in market despite government propaganda and lies about positive economy, this is the reason. They're fooling people

 

[tarrar]

It is very important for any country to have less imports and more exports.

 

[Syed1.]

What the report doesn't mention is that in one month period (from November 2019 to December 2019), exports decreased, imports increased as well as the trade deficit also increased.

"On a month-on-month basis, exports, which stood at slightly below $2 billion in December 2019, were $21 million or 1% less than the previous month.

Imports marginally increased to $3.95 billion on a month-on-month basis. The month-on-month trade deficit was up by $31 million or 1.6% to $1.96 billion, according to the PBS."

https://tribune.com.pk/story/2131727/2-pakistans-trade-deficit-contracts-30-11-6b/?amp=1

Only people with patwari level of economic knowledge give importance to month to month increase decrease in trade numbers.... World over the metric is to compare with the same month of last year

 

[SSGcommandoPAK]

What was the total remittance received during the same period?

around 22bn USD, previous year it was around 20bn USD.

 

[Foxtrot Delta]

Lets hope for 100% in the next year... Ameen

 

[Bilal.]

around 22bn USD, previous year it was around 20bn USD.

Thank you but that’s the figure for last financial year. I was asking about the first half of this year Jul-Dec.

 

[Pandora]

big Part of our total imports are oil , we need to discover Oil in our shores or somewhere , once that is overcome the economy will see a stabilization .

Even if we can get rid of old furnace oil based power plants it will reduce our bill by almost $2-3 billion. These power plant not only use expensive oil but are also use 40 years old inefficient tech.

Increase coal power that will have a big dent in petroleum imports

Using imported coal will only substitute one import with another. We need to maximise use of local resource if we want to make a dent in import bill. Thar coal needs to be utilized along with our water resource for electricity generation. Pakistan should establish a local solar panel manufacturing plant to have cost effective solar units.

 

[War Thunder]

Aisi koi alla nasal ki dheet quom hai, abhi tou cellphones pe tax bhi zyada lagaya hai phir bhi...

Har kisi ko naye se naya phone chahiye bhai. Waha badey logon ki pehchan unke phone se ki jaati hai.
I don't even get into these smart gadgets like smart watch and what not because its just a waste, even though I can afford them more, but the demand for these things in Pak is like a whole different level.

 

[newb3e]

cosmetic claims!

Pakistanis are suffering everyday while chor and their chowkidars are looting with both hands! and PM speech is being censored!

 

[Baby Leone]

This was because of a decline in imports and increasing exports of the country, according to the statistics.

such a liar......

its only because of the decrease in imports.

 

[Zibago]

such a liar......

its only because of the decrease in imports.

Exports have increased if one would bother to look at the figures

 

[Norwegian]

Comparison with same government rather than with previous government.
Imports have been banned or reduced for important items that gave people jobs and industries shut down

Imports need to be curbed. One must live within means. Old policy of too much imports is what led to current destruction in economy

 

[Baby Leone]

Exports have increased if one would bother to look at the figures

yes, glorious figures of exports, 3% increase wow.........