Pakistan's trade deficit has increased to $3.204 billion in July 2017, up by 55.46 percent over $2.061 billion for the same month a year ago, according to Pakistan Bureau of Statistics (PBS). Provisional trade data released by the PBS for the month of July 2017 noted 10.58 percent increase in export and 36.74 percent in imports during the month under review. Exports have increased to $1.631 billion in July 2017 from $1.475 billion for the same month a year before and imports to $4.835 billion from $3.536 billion.
There was a decline of 14.71 percent in exports in July 2017 over June 2017 after the country's exports decreased to $1.631 billion in July from $1.912 billion in June while on the other hand imports have increased by 6.64 percent. The country imported goods worth $4.835 billion in July 2017 as opposed to $4.534 billion in June 2017. As a result trade deficit in July 2017 over previous month increased by 22.20 percent - $3.204 billion in July 2017 from $2.622 billion June 2017.
The country's exports during the tenure of the present government have declined to around $20 billion from $25 billion in 2013 which necessitated Rs 180 billion incentives package by the government. However, exporters complained that the incentive package announced could not be implemented and the country's exports continue to decline. The persistent decline in exports was being viewed a serious challenge to the balance of payment position, especially when the huge repayments on account of foreign borrowing are approaching.
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