According to the provisional figures compiled by the Pakistan Bureau of Statistics, the trade deficit for the fiscal year 2017-18 has jumped up by 15.87%, in dollar terms, compared to the previous fiscal year 2016-17.
The trade deficit in FY18 was reported at $37.645 billion compared to $32.488 billion during the previous fiscal.
This massive trade deficit is on account of a 15% jump in imports from $52.91 billion in FY17 to $60.87 billion in FY18. Exports, on the other hand, grew by 13.71%, in dollar terms, over the previous fiscal year as they were reported at $23.22 billion compared to $20.42 billion during the last fiscal.
Based on the provisional figures for imports and exports, the balance of trade in June 2018 was (-) 452,668 million in terms of Rupees and (-) 3,807 million in US dollars. The balance of trade figures cumulative from July-June, 2017–2018 were (-) 4,147,218 million in terms of Rupees and (-) 37,645 million in US dollars.
Exports from Pakistan during June 2018 amounted to Rs.224,324 million (provisional) as against Rs.247,534 million (provisional) in May 2018 and Rs.199,730 million during June 2017 showing a decrease of 9.38% over May 2018 but an increase of 12.31% over June 2017.
In terms of US dollars, the exports in June 2018 was $ 1,887 million (provisional) as compared to $ 2,144 million (provisional) in May 2018 showing a decrease of 11.99% and by 1.00% as compared to $1,906 million in June 2017.
Exports during July-June, 2017– 2018 totaled Rs. 2,556,209 million (provisional) as against Rs.2,138,186 million during the corresponding period of last year showing an increase of 19.55%.
In terms of US dollars, the exports during July–June 2017-2018 totaled $ 23,222 million (provisional) against $ 20,422 million during the corresponding period of last year showing an increase of 13.71%.
Main commodities of exports during June, 2018 were Knitwear (Rs.30,609 million), Readymade garments (Rs.28,024 million), Bedwear (Rs.24,434 million), Cotton cloth (Rs.22,386 million), Cotton yarn (Rs.14,747 million), Rice others (Rs.12,457 million), Towels (Rs.7,137 million), Madeup articles (excl. towels & bedwear) (Rs.6,289 million), Rice Basmati (Rs.5,048 million) and Sugar (Rs.4,093 million).
Imports into Pakistan during June 2018 amounted to Rs.676,992 million (provisional) as against Rs.671,212 million (provisional) in May 2018 and Rs.472,727 million during June 2017 showing an increase of 0.86% over May 2018 and of 43.21% over June 2017.
In terms of US dollars, the imports in June 2018 was $ 5,694 million (provisional) as compared to $ 5,814 million (provisional) in May 2018 showing a decrease of 2.06% but increased by 26.20% as compared to $ 4,512 million in June 2017.
Imports during July-June, 2017–2018 totaled Rs. 6,703,427 million (provisional) as against Rs.5,539,721 million during the corresponding period of last year showing an increase of 21.01%.
In terms of US dollars, the imports during July-June, 2017–2018 totaled $ 60,867 million (provisional) as against $ 52,910 million during the corresponding period of last year showing an increase of 15.04%.
Main commodities of imports during June, 2018 were Petroleum products (Rs.79,400 million), Petroleum crude (Rs.58,352 million), Natural Gas Liquefied (Rs. 39,352), Aircrafts, ships & boats (Rs.35,762 million), Plastic materials (Rs.22,742 million), Iron & steel (Rs.22,606 million), Electrical machinery & apparatus (Rs.21,996 million), Power Generating Machinery (Rs.21,806), Raw cotton (Rs.19,422 million) and Palm oil (Rs.18,002 million).
