Business
Pakistan's exports surge 27.5% to $4.5bn, imports 72.5% to $12bn in 2MFY22
Islamabad: Pakistan has recorded surge in both exports and imports in the first two months of the current fiscal year, the statistics issued by the Federal Bureau of Statistics show.
The exports from the country witnessed an increase of 27.59 percent during the first two months of the current fiscal year (2021-22) as compared to the corresponding months of last year.
According to PBS data, the exports from the country stood at $4.573 billion during July-August (2021-22), as against the exports of $3.584 billion recorded during July-August (2020-21), showing growth of 27.59 percent.
The imports during the months under review also went up by 72.59 per cent by growing from $6.99 billion last year to $12.064 billion in July-August (2021-22).
Based on the data, the trade deficit during the period under review was recorded at $7.491 billion, showing an increase of 119.94 percent over the deficit of $3.406 billion recorded during July-August (2020-21).
Furthermore, on year-on-year basis, the exports of the country increased by 41.04 per cent during the first two months as compared to the exports of July-August (2020-21).
The exports during July-August (2021-22) were recorded at $2.234 billion against the exports of $1.584 billion in July-August (2020-21), the data revealed.
The imports into the country increased from $3.316 billion July-August (2020-21) to $6.463 billion in July-August (2021-22), showing a growth of 94.90 per cent.
On month-on-month basis, the exports from the country however witnessed a decline of 4.53 percent during July-August (2021-22) as compared to the exports of $2.340 billion recorded during July (2021-22).
Likewise, the imports into the country during July (2021-22) witnessed 15.39 percent growth as compared to the imports of $5.601 billion in July (2021-22).