The country registered overall 1.65 percent (in dollar terms) increment in trade deficit at the end of third quarter of the current fiscal year. In other words, the balance of trade has swelled to $11.217 billion during first nine month of 2010-11.
According to the data released by the Ministry of Commerce, the export volume reached $17.799 billion in first quarter of the current fiscal year, registering a growth of 26.5 percent, whereas the import bill of $29.016 billion showed 15.57 percent growth during the same year. The recorded change is 1.65 percent rise.
The export volume of Pakistan in March was $2.497 billion, registering an increase of 41.1 percent as compared to March 2010. An official of the Ministry said that in growth of exports was very promising and it gave confidence to the fragile economy that ultimately it would touch $24 billion exports target by the end of the current financial year. Four percent increase was seen in the volume of imports in March 2011, amounting to $3.417 billion, as compared to the same period of last year.
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