Weekly Economic Roundup

May 31, 2020 (MLN): The latest wrap of financial and economic data releases over the course of the week is here to provide you insights on what is coming up.  

• The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.13% during the week ended May 28, 2020 while the SPI increased by 9.63% compared to the corresponding period from last year.

• Pakistan's Forex Reserves decreased by USD 20.40 Million or 0.11% and the total liquid foreign reserves held by the country stood at USD 18,597.90 Million on May 21, 2020.

• Petroleum, Agriculture Products & Chemicals, Machinery, and Food are the commodities that Pakistan imported heavily during Jul-Apr FY20 as they accounted for 23%, 16%, 14%, and 11% of the total import respectively.

• Just like the previous month, Pakistan’s export performance remained miserable in the month of April 2020, as the exports of major commodities continued to fall in the aftermath of the Covid-19 outbreak. Cumulatively, during Jul-April FY20, the overall exports declined by 2% YoY to $19.65 billion as compared to $20.135 billion recorded during Jul-April FY19.

• Total exports of Pakistani goods as per Balance of Payment (BoP) fell by 23.5% MoM and 33.2% YoY to $1.39 billion in April’20, showing the international trade disruptions due to the ongoing pandemic.

• The Economic Coordination Committee (ECC) of the cabinet Saturday approved the criteria for disbursement of Rs.200 billion in the power sector received through Islamic Sukuk.

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