Trade Deficit Widens by 9 percent to $17.30 Billion - Android

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Trade Deficit Widens by 9 percent to $17.30 Billion - Android

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Pakistan’s trade deficit has swelled to $17.30 billion in the first eight months (July 2020 to February 2021) of the… Read More

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Pakistan’s trade deficit has swelled to $17.30 billion in the first eight months (July 2020 to February 2021) of the current fiscal year FY21) as imports exceeded more than the exports.

The country’s trade imbalance was recorded at $17.30 billion in July to February period of the FY2020-21 as compared to $15.87 billion in the corresponding period of the previous year, showing an increase of 9 percent.

According to the provisional data released by the Ministry of Commerce (MoC), imports from July 2020 to February 2021 of the financial year 2021 (FY21) were increased by $2.085 billion to $33.6 billion as compared to $31.51 billion in the same period in the last FY.

This was revealed by the Adviser to the Prime Minister for Commerce and Investment, Abdul Razak Dawood through his Twitter account.

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“The Ministry of Commerce (MOC) has conducted a preliminary analysis of this increase in import”, the adviser wrote, adding “It has transpired that most of this growth came from an increase in import of Raw Material & Intermediate Goods, which increased by 7.8 percent. The import of Capital Goods declined by 0.2 percent, while that of Consumer Goods decreased by 7.3 percent”.