Islamabad June 2 2022: As per the latest data released by Pakistan Bureau of Statistics, trade deficit increased by 55.29 percent YoY to USD 48,259 million during the fiscal year 2022 which runs from July to June.
The previous high trade deficit was registered in fiscal year 2018 when it recorded at USD 37,583 million on imports of USD 60,795 million.
Exports hit historic high of USD 31,276 million with increase of 25.51 percent in fiscal year 2022 due to higher textile exports and commodity prices. In fiscal year 2021, exports were recorded at USD 25,304 million.
Imports during the year crossed USD 80 billion level for the first in country's history and recorded at USD 80,019 million. Imports registered growth of 41.93 percent due to higher oil and commodity prices.
In June, trade deficit jumped up by 16.48 percent month on month and 33.42 percent year on year to USD 4,835 million.
During the month of June, exports stood at USD 2,887 million while Imports were USD 7,772 million. The data showed that exports during June 2022 were 9.94 percent higher than exports of May 2022 while increased by 5.83 percent compared to exports of June 2021.
The data showed that imports during June 2022 were 13.92 percent higher than imports of May 2022 and increased by 21.57 percent compared to imports of June 2021.