ISLAMABAD: The country’s trade deficit widened by 21.60 percent to $23.825 billion in July-April 2020-21 compared to $19.593 billion in July-April 2019-20, says the Pakistan Bureau of Statistics (PBS).

According to trade data, released by the PBS, Pakistan’s exports declined by 7.23 percent on month on month (MoM) basis and stood at $2.194 billion in April 2021 against $2.365 billion in March 2021.

Trade figures shows that the country’s imports remained $44.706 billion in July-April 2020-21, compared to $37.992 billion in July-April 2019-20 registering 17.67 percent growth.

The country’s exports witnessed 13.49 percent growth and remained $20.881 billion in July-April 2020-21, compared to $18.399 billion in July-April 2019-20.

The country’s exports declined by 7.23 percent on MoM basis and stood at $2.194 billion in April 2021 against $2.365 billion in March 2021.

Imports declined by 8.34 percent on MoM basis and remained $5.118 billion in April 2021 against $5.660 billion in March 2021.

The trade deficit narrowed by 9.14 percent on MoM basis and stood at $2.994 billion in April 2021 against $3.295 billion in March 2021.

Pakistan’s trade deficit widened by a massive 33.24 percent on year-on-year basis to $2.994 billion in April 2021 compared to $2.247 billion in April 2020.

Trade figures shows that the country’s exports registered 129.74 percent increase in April 2021 and stood at $2.194 billion compared to $955 million in April 2020.

The country’s imports remained $5.188 billion in April 2021 compared to $3.202 billion in April 2020 registering 62.02 percent growth.

On Sunday, Abdul Razak Dawood, in his tweet said: “Alhamdulliah, Pakistan's exports for April 2021 stood at $2.191 billion, adding that this is the first time since 2011 that our monthly exports have crossed the $2 billion mark for seven consecutive months.”

According to the Commerce Ministry, the export growth of 129 percent over April 2020 cannot be taken into account due to lockdown last year.

Exports for Jul-April 2021 grew by 13 percent to $20.879 billion as compared to $18.408 billion during the same period last year, the ministry stated, while sharing figures with media.

However, according to the PBS exports stood at $2.194 billion in April 2021, while it witnessed 13.49 percent growth and remained $20.881 billion in July-April 2020-21 compared to $18.399 billion in July-April 2019-20.

Copyright Business Recorder, 2021