Pakistan's trade deficit expanded by 33.97 percent during July-December 2014, provisional trade figures released by Pakistan Bureau of Statistics (PBS) on Friday revealed. The PBS data showed that the trade deficit during July-December 2014 was recorded at $12.130 billion against the deficit of $9.054 billion in July-December 2013, as exports decreased by 4.31 percent while imports witnessed an increase of 11.68 percent in July-December 2014 as compared to July-December 2013.
The data showed country's exports during July-December 2014 were $12.073 billion against $12.617 billion exports during July-December 2013 while the imports into the country during the period under review were $24.203 billion against the imports of $21.671 billion in the corresponding period of last year.
On year-on-year basis, the exports from the country in December 2014 decreased by 4.64 percent against December 2013 as the total goods exported in December 2014 stood at $2.156 billion as compared to $2.261 billion in the same month last year. While, import into the country increased by 8.37 percent in December 2014 as compared to the same month of last year as the total goods imported in December 2014 stood at $3.859 billion as compared to $3.561 billion in December 2013.Thus, the trade deficit in December 2014 against December 2013 surged by 31.00 percent rising from $1.300 billion in December 2013 to $1.703 billion in December 2014.
Analysis of the monthly figures shows the deficit increased down by 2.34 percent in December 2014 over November 2014, as it increased to $1.703 billion in December 2014 as compared to $1.664 billion in November 2014. Exports stood at $2.156 billion in December 2014 against $1.966 billion in November this year, registering increase of 9.66 percent. However, imports stood at $3.859 billion in December 2014 as compared to $3.630 billion November 2014, reflecting increase of 6.31 percent. The dollar exchange rate stood at (1$=RS. 100.823395) in December 2014, November 2014 (1$=Rs 101.787426) and December 2013 (1$= Rs 106.970956).
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