ISLAMABAD June 08 2021: As per the latest data released by Pakistan Bureau of Statistics, country’s trade deficit posted a growth of 150 percent on year on year during the month of May 2021.
During the month of May 2021, trade deficit increased by 149.49 percent on year on year basis and 19.86 percent on month on month basis to USD3,645million. With this, the monthly traded deficit number has reached at a thirty-five months high, last time such quantum of trade deficit was seen during the month of June-2018 which was USD 3,807million.2
During first eleven month of current fiscal year, the trade deficit jumped up by 30.56 percent compared to same period of last fiscal year. The rise in deficit is triggered by 22.52 percent rise in imports to USD 50,048 million compared to USD 40,849million during same period of last year. However, exports during the same period also increased by 13.97 percent to USD 22,560million.
Rising food and commodity prices has triggered the imports. During ten months of current fiscal year the import bill of, transport group, textile group, food group and machinery group has witnessed a year on year growth of 77 percent, 47 percent, 54 percent and 11 percent, respectively.