According to data released by Pakistan Bureau of Statistics (PBS), Pakistan’s balance of trade month on month in August stood at -3.08 million US Dollars. Total Exports during the month witnessed a 14.25% increase over July, 2017 whereas imports for the month increased by 2.31%.
Pakistan’s balance of trade during the month of July was at -3,204 million US Dollars which went on to reach -3,086 million US Dollars in August, down by 3.68%.
Year on year, Pakistan’s trade balance clocked in at -3.08 million by 16.45 % year on year, with a 13% increase in Exports during the year. Pakistan’s imports were also up substantially, increasing by more than 15%.
However, during August, Pakistan’s services sector saw dip in both imports and exports. Pakistan’s Services exports were down by 8.52% and imports were down by 2.17%. Year on year, balance of trade amounted to -489.42 million dollars, up 42.1% from -344.42 million dollars in July, 2016.
According to State Bank of Pakistan data, Total Exports as per BOP have gone up by 15% month on month in August, 2017. In the breakup of exports, live trees and other plants exports jumped 124% in the month of August, Plastics & Raw hide exports went up 25%, and Textile exports were up 14%.
Base Metal Exports witnessed a significant surge in exports, more than 54% increase, totaling an amount of 50 million for the month under review.
Month on month, SBP data revealed a downward trend in imports by up to 10%. Vegetables, Machinery, Plastics, Wood, Misc: Manufactured Items witnessed a decrease in exports during the period under review.