September 19, 2018 (MLN): Pakistan’s Trade Deficit during August, the second month of the current fiscal year, has decreased by 6.8 percent over the previous month and by 2.87 percent compared to the corresponding period of the last fiscal year when measured in US dollars.
When measured in Pakistani rupee, Pakistan’s trade deficit has fallen by 7.21% in August after being recorded at Rs 368.3 million during that month, compared to Rs 396.9 million in the prior month. Compared to last year, in rupee terms, the country’s trade deficit has however increased by 14.19 percent as last year a deficit of Rs 322.5 million had been recorded.
According to the official statistics, exports from Pakistan during August 2018 amounted to Rs 249,657 million (provisional) as against Rs 204,688 million (provisional) in July 2018 and Rs 195,913 million during August 2017 showing an increase of 21.97% over July 2018 and of 27.43% over August 2017.
The main commodities of exports during August, 2018 were Knitwear worth Rs 34,653 million, Bedwear (Rs 28,498 million), Readymade garments (Rs 27,755 million), Cotton cloth (Rs 25,076 million), Cotton yarn (Rs 13,221 million), Rice (Rs 9,702 million), Towels (Rs 9,097 million), Madeup articles (excluding Towels & Bedwear) (Rs 8,256 million), wheat (Rs 4,783 million) and fruits (Rs 4,512 million).
In terms of US dollars, the exports in August 2018 was $ 2,017 million (provisional) as compared to $ 1,646 million (provisional) in July 2018 showing an increase of 22.54% and by 8.44% as compared to $1,860 million in August 2017.
Exports during July-August, 2018 totaled Rs 454,345 million (provisional) as against Rs 367,414 million during the corresponding period of last year showing an increase of 23.66%.
In terms of US dollars the exports during July–August 2018 totaled $ 3,663 million (provisional) against $ 3,487 million during the corresponding period of last year showing an increase of 5.05%
Imports into Pakistan during August 2018 amounted to Rs 617,949 million (provisional) as against Rs 601,586 million (provisional) in July 2018 and Rs 518,438 million during August 2017 showing an increase of 2.72% over July 2018 and of 19.19% over August 2017.
Main commodities of imports on the other hand during August, 2018 were Petroleum products (Rs 64,059 million), Petroleum crude (Rs 62,967 million), Natural Gas Liquefied (Rs 40,397), Iron & steel (Rs 26,586 million), Plastic materials (Rs 23,072 million), Fertilizer manufactured (Rs 20,737 million), Palm oil (Rs 18,259 million) Electrical machinery & apparatus (Rs 18,189 million), Iron & steel scrap (Rs 17,973 million) and Power Generating Machinery (Rs 14,362).
In terms of US dollars, the imports in August 2018 was $ 4,992 million (provisional) as compared to $ 4,838 million (provisional) in July 2018 showing an increase of 3.18% and by 1.40% as compared to $ 4,923 million in August 2017.
Imports in the two months of the current fiscal year running from July-August, 2018 totaled Rs 1,219,535 million (provisional) as against Rs 1,025,375 million during the corresponding period of last year showing an increase of 18.94%.
In terms of US dollars the imports during July – August 2018 totaled $ 9,830 million (provisional) as against $ 9,732 million during the corresponding period of last year showing an increase of 1.01%.
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