Islamabad (HRNW)– According to a report by the Bureau of Statistics, a significant decline in Pakistani exports was recorded in the first five months of the current fiscal year, while imports increased, resulting in an alarming increase in the trade deficit.
According to the report, the trade deficit increased by 37 percent, or $4.19 Billion, from July to November, after which the total trade deficit reached $15.46 billion.
Exports decline
According to the statistics office, the country’s exports decreased by $877 Million during the first five months. Last year, exports were $13.72 Billion in the same period
While this year it decreased to $12.84 Billion
The overall decline in exports was recorded at 6.39 percent
Imports increase
The report said that imports increased by 13.26 percent during July-November,
after which the volume of imports increased to $28.31 billion.
According to analysts, the continuously falling exports and increasing imports indicate a worrying situation for the country’s economy, while further pressure on trade policies is likely to increase in the coming months.
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