Pakistan’s exports observed an upsurge of 27.78 percent during the first eleven months of the current fiscal year (2021-22) when compared to the same period of last year, according to the Pakistan Bureau of Statistics (PBS).
The PBS reported that the exports from the country were registered at $28.848 billion during July-May (2021-22) as compared to the exports of $22.576 billion recorded during July-May (2020-21), showing an increase of 27.78 percent.
Meanwhile, the imports during the months under consideration also jacked up by 44.28 percent by increasing from $50.028 billion last year to $72.182 billion in July-May (2021-22).
During the months under review, the trade deficit was registered at $43.334 billion, showing a growth of 57.85 percent over the deficit of $27.452 billion recorded a year ago, the PBS data revealed.
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Moreover, on a year-on-year basis, Pakistan’s exports grew by 55.66 percent during May 2022 against the exports of the corresponding month of last year. The exports during the period under review were recorded at $2.601 billion as compared to the exports of $1.671 billion during the same month a year ago.
The imports into the country rose from $5.297 billion in May 2021 to $6.644 billion in May 2022, presenting an increase of 25.43 percent.
However, on a month-on-month basis, the exports from the country dropped by 10.22 percent during May 2022 against the exports of $2.897 billion recorded in April 2022.
On the other hand, the country’s imports during May 2022 witnessed a decrease of 0.52 percent when compared to the imports of $6.679 billion in April 2022, as per the PBS data.
In the meantime, the services exports from the country also increased by 18.21 percent during the first 10 months of the present fiscal year and were recorded at $5.788 billion as compared to the exports of $4.897 billion a year ago.
