Pakistan's trade deficit increases by 30% YoY in 11MFY21

June 19, 2021 (MLN):  Pakistan's trade deficit for 11months (July-May) FY21 was USD27.463 billion compared to a deficit of USD21.054 billion from the corresponding period from FY20, depicting a growth of 30% YoY.

According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit for the month of May 2021 was recorded at USD3.63 billion compared to a deficit of USD3.024 billion from April 2021 showing an improvement of 20.27 percent.

Compared to the May 2020 deficit of USD1.46 billion, the trade deficit jumped by a whopping 148.94%.

Exports decreased by 24.6 percent to USD1.67 billion compared to USD2.28 billion in April 2021. While on yearly basis, the exports exhibited a growth of 19.7 percent from $1.39 billion in May 2020.

Imports in May 2021 decreased marginally by 1.26 percent, clocking in at USD5.308 billion compared to USD5.242 billion in April 2021. Compared to the corresponding period last month, the imports showed a significant increase of 85.79 percent from $2.857 reported in May 2020.

Overall, the 11month exports stood at USD22.57 billion compared to USD19.79 billion from the corresponding period of last year, showing an increase of 14.05 percent. Similarly, Imports during the period increased by 22.5 percent to USD50.039 billion compared to USD40.849 billion from the same period of FY20.

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