Pakistan Trade deficit increases to $14.9bn in January-2021

February 9, 2021

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Pakistan’s trade deficit for the first seven months (July’2020-January’2021) of the current fiscal year has increased by 8.25% to $ 14.96 billion, up from $ 13.82 billion in the corresponding period of the previous fiscal year.

According to data released by Statistics Pakistan (PBS), the trade deficit for January 2021 stood at $ 2.601 billion, up from a $ 2.639 billion deficit in December 2020, showing an improvement of 1.44%. Compared to a January 2020 deficit of $ 2.149 billion, trade was down 21.03%.

Exports fell 9.89% to $ 2.132 billion as compared to $ 2.366 billion in December 2020. However, compared to January 2020, exports increased by 8.11%.

On the other hand, imports declined 5.43% in January 2021 to $ 4.733 billion from $ 5.005 billion in December 2020, while it increased by 14.85% over January 2020.

In general, exports for seven months period amounted to $ 14.242 billion, compared with $ 13.496 billion in the same period last year, which means an increase of 5.53 per cent. Likewise, imports increased 6.92% over this period to reach $ 29.205 billion, up from $ 27.316 billion for the same period in fiscal 2020.