The country''s trade deficit rose by 21.99 percent in the first four months of the current fiscal year as compared to the same period of last financial year, Pakistan Bureau of Statistics (PBS) said Thursday. According to provisional trade figures released by PBS, trade deficit increased to $9.319 billion in July-October 2016 against $7.639 billion during the same period of last fiscal year after 6.31 percent decline in exports and 8.60 percent increase in imports.
Analysts said growing trade deficit on account of persistent decline in exports may pose a serious challenge to the balance of payment position if something is not done to increase exports. Exports stood at $6.865 billion during July-October 2015 and declined to $6.432 billion in July-October 2016 whereas imports increased to $15.751 billion in July-October 2016 from $14.504 billion during July-October, 2015.
The country''s trade deficit in October 2016 when compared to the same month of last fiscal year increased by 4.51 percent following an increase of 3.39 percent in imports and 1.97 percent in exports. Exports in October 2016 increased to $1.75 billion from $1.54 billion for the same month a year ago. Imports also increased to $4.026 billion in October 2016 from $3.894 billion recorded in October 2015.
There was an improvement recorded in trade deficit in October 2016 over the previous month of September 2015 due to increase in exports and relatively less increase in imports. Trade deficit was recorded at $2.270 billion in October 2016 against $2.315 billion in September 2016. Exports in October 2016 stood at $1.756 billion compared to $1.543 billion in September 2016. Imports increased to $4.026 billion in October 2016 against $3.858 billion in September 2016.
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