Pakistan’s Trade Deficit at USD 27 Billion in 11 months of FY21

MG News | June 03, 2021 at 11:07 AM GMT+05:00

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June 3, 2021 (MLN): Pakistan's trade deficit for 11 months (July-May) FY21 widened by 30% to stand at USD 27.27 billion compared to a deficit of USD 21.06 billion from the corresponding period from FY20.

According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit for the month of May 2021 was recorded at USD 3.43 billion against USD 1.46 billion recorded in May 2020, showing a colossal increase of 134%.

Compared to a deficit of USD 2.99 billion recorded in April 2021, the trade numbers deteriorated by 14.7% MoM.

In the month of May 2021, exports from Pakistan increased by 19% to USD 1.7 billion while imports jumped by 78% to USD 5.1 billion.

Cumulatively, during 11MFY21 exports stood at USD 22.56 billion, up by 14% compared to USD 19.80 from the corresponding period of last year. Similarly, imports during the period increased by 22% to USD 49.84 billion compared to USD 40.87 billion from the same period of FY20.

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