Trade deficit expanded by 49.37 percent in July-October

Country's trade deficit expanded by 49.37 percent during first four months of current fiscal year 2014-15, reveals provisional trade figures released by Pakistan Bureau of Statistics (PBS) on Wednesday. The PBS data showed the trade deficit during July-October 2014-15 was recorded at $8.813 billion against the deficit of $5.900 billion in July-October 2013-14, showing growth of 49.37 percent as exports reduced by 6.86 percent.
While imports witnessing an increase of 16.09 percent in July-October 2014-15 against July-October 2013-14, PBS data showed. The data further revealed that exports during July-October 2014-15 were recorded at $7.972 billion against $8.559 billion recorded during July-October 2013-14 while the imports into the country during the period under review were recorded at $16.785 billion against the imports of $14.459 billion during the corresponding period last year.
However, on year-on-year basis, the exports from the country in October 2014 increased by 4.99 percent against October 2013 as total goods exported in October 2014 stood at $1.957 billion as compared to $1.864 billion in the same month last year. The import into the country also surged by 30.02 percent in October 2014 as compared to the same month last year as the total goods imported in October 2014 stood at $4.266 billion as compared to $3.281billion in October 2013. Thus the trade deficit in October, 2014 against October, 2013 expanded by 62.95 percent rising from $1.417 billion in October 2013 to $2.309 billion in October, 2014.
Analysis of the monthly figures shows that trade deficit narrowed by 2.98 percent in October 2014 over September 2014, as it declined to $2.309 billion in October 2014 as compared to $2.380 billion in September 2014. Exports stood at $1.957 billion in October 2014 against $2.181 billion in September this year, registering decrease of 10.27 percent. However, imports stood at $4.266 billion in October, 2014 as compared to $4.561 billion in September 2014, reflecting decline of 6.47 per cent. The dollar exchange rate stood at (1$-Rs 102.753697) in October 2014, September 2014 (1$-Rs 102.342495) and October 2013 (1$-Rs 106.196588).