Q1 trade deficit widens 100.6pc

ISLAMABAD: Pakistan's trade deficit widened by 100.6 percent to $11.664 billion during the first quarter (July-September) of current fiscal year 2021-22 as compared to $5.814 billion during the same period of 2020-21, says the Pakistan Bureau of Statistics (PBS).

According to trade data released by the PBS on Monday, the country's imports stood at $18.631 billion during July-September 2021-22 compared to $11.286 billion during the same period of last fiscal year i.e. registered 65 percent increase.

Exports witnessed 27.3 percent growth during July-September 2021-22 and remained $6.967 billion compared to $5.472 billion during the same period of 2020-21.

The PBS data further revealed that trade deficit widened by 70 percent on year-on-year basis and stood at $4.099 billion in September 2021 compared to $2.410 billion in September 2020.

The country's exports witnessed 26.1 percent growth on year-on-year basis in September 2021 and stood at $2.380 billion compared to $1.887 billion in September 2020.

August trade deficit widens massive 133pc YoY

Imports witnessed 50.7 percent growth on year-on-year basis in September 2021 and stood at $6.479 billion compared to $4.297 billion in September 2020.

The data further revealed that the trade deficit on month-on-month basis narrowed by 5.3 percent to $4.099 billion in September 2021 compared to $4.330 billion in August 2021.

The country's exports registered 5.9 percent growth on month-on-month basis and stood at $2.380 billion in September 2021 compared to $2.247 billion in August 2021.

Imports declined by 1.4 percent in September 2021 and stood at $6.479 billion compared to $6.577 billion in August 2021.

The trade figures were slightly worse than what the Adviser to the Prime Minister on Commerce, Razak Dawood, shared with the media on the same day.

July trade deficit widens by whopping 85.53pc YoY

According to the adviser, exports have increased by 27.4 percent in September 2021 to $2.41 billion as compared to $1.89 billion in September 2020.

However, according to the PBS data, exports increased by 26.1 percent on year-on-year basis. He further said for the first quarter of fiscal year 2021-22, the exports have increased by 28 percent to $6.99 billion as compared to $5.47 million in Q1 of 2020-21.

However, according to the PBS data, the exports increased by 27.3 percent during this period.

The adviser did not share imports data and stated that the import figures are being analysed in consultation with other government departments and would be released shortly. However, till filing of this report, imports figures were not shared.

Copyright Business Recorder, 2021