After 22 months, exports tumble 24pc in July

[Norwegian]

ISLAMABAD: The country’s exports of merchandise entered a negative growth in July after 22 months when the economy recovered from the impact of Covid-19.

The export proceeds fell 5.17 per cent to $2.21 billion in the first month of the current fiscal year from $2.34bn in the corresponding month last year, data from the Pakistan Bureau of Statistics showed on Tuesday.

On a month-on-month basis, the export proceeds tumbled by 23.95pc indicating a downward trend in the export sector. Last time, the exports posted a negative growth of 14.75pc in August 2020.

In FY22, for the first time, not only the export target was achieved but it exceeded the psychological barrier of $30bn. Pakistan’s exports remained below this level for the last decade.
Pakistan’s exports increased 26.6pc to $31.845bn in the just-ended fiscal year, up from $25.160bn a year ago. Exports grew 6.48pc to $2.89bn in June, up from $2.72bn in the previous year.

The textile sector has already complained about the rising cost of energy and raw materials mainly due to massive rupee depreciation. Moreover, exporters have also complained about refunds that stuck with the Federal Board of Revenue

After 22 months, exports tumble 24pc in July

Import bill dips 38pc month-on-month; Miftah says "our efforts to reduce imports have finally borne fruit".

www.dawn.com

Imran Khan destroyed economy: neutrals / PDM / media

@FOOLS_NIGHTMARE @muhammadhafeezmalik @Tameem @Edevelop @SBD-3 @Mav3rick @Signalian @ziaulislam @Patriot forever @farok84 @El Sidd @Jango @waz @koolio @AZ1 @Dual Wielder @Zibago @RescueRanger @blain2 @SQ8 @Hyde @Wood @maithil @ghazi52 @Ghazwa-e-Hind

 

[ziaulislam]

ISLAMABAD: The country’s exports of merchandise entered a negative growth in July after 22 months when the economy recovered from the impact of Covid-19.

The export proceeds fell 5.17 per cent to $2.21 billion in the first month of the current fiscal year from $2.34bn in the corresponding month last year, data from the Pakistan Bureau of Statistics showed on Tuesday.

On a month-on-month basis, the export proceeds tumbled by 23.95pc indicating a downward trend in the export sector. Last time, the exports posted a negative growth of 14.75pc in August 2020.

In FY22, for the first time, not only the export target was achieved but it exceeded the psychological barrier of $30bn. Pakistan’s exports remained below this level for the last decade.
Pakistan’s exports increased 26.6pc to $31.845bn in the just-ended fiscal year, up from $25.160bn a year ago. Exports grew 6.48pc to $2.89bn in June, up from $2.72bn in the previous year.

The textile sector has already complained about the rising cost of energy and raw materials mainly due to massive rupee depreciation. Moreover, exporters have also complained about refunds that stuck with the Federal Board of Revenue

After 22 months, exports tumble 24pc in July

Import bill dips 38pc month-on-month; Miftah says "our efforts to reduce imports have finally borne fruit".

www.dawn.com

Imran Khan destroyed economy: neutrals / PDM / media

@FOOLS_NIGHTMARE @muhammadhafeezmalik @Tameem @Edevelop @SBD-3 @Mav3rick @Signalian @ziaulislam @Patriot forever @farok84 @El Sidd @Jango @waz @koolio @AZ1 @Dual Wielder @Zibago @RescueRanger @blain2 @SQ8 @Hyde @Wood @maithil @ghazi52 @Ghazwa-e-Hind

Right on target

 

[Dalit]

Let PDM and Bajwa wreck Pakistan. We have seen how Bajwa begged papa America for a few billion dollars recently. This is the fate of Pakistan. A beggar nation that will constantly beg for peanuts.

The expats shouldn't send a penny to Bajwa's Pakistan.

 

[Ghazwa-e-Hind]

Plans in motion to default Pakistan, and make grounds for recognition of Israel and surrender nukes.

The beggar narrative was carefully thought and executed.

I am still hoping there are good people left in establishment who will openly side with ordinary Pakistani people and not treat us as bloody civilians.

 

[Areesh]

@muhammadhafeezmalik @FOOLS_NIGHTMARE

Sherrrrrrrrrrrrrr

Nawaz Sharif kal bhi export ka dushman tha. Aaj bhi export ka dushman hai

Hum kiyun apna saman doosron ko baichain? Hum kiyun saman bana k doosron ko dain?

Yeh hota hai leader. Yeh hota hai vision

 

[Ghazwa-e-Hind]

@muhammadhafeezmalik @FOOLS_NIGHTMARE

Sherrrrrrrrrrrrrr

Nawaz Sharif kal bhi export ka dushman tha. Aaj bhi export ka dushman hai

Hum kiyun apna saman doosron ko baichain? Hum kiyun saman bana k doosron ko dain?

Yeh hota hai leader. Yeh hota hai vision

saray retired mods ab market se shart hogaye

 

[Areesh]

saray retired mods ab market se shart hogaye

Retired mod to kafi time sai shart hai

Laikin khush hoga. Constitution, democracy aur civilian supremacy jo fully implement ho gayi hai Pakistan main

 

[ejaz007]

July exports, imports fall amid economic slowdown​

Exports shrink near a quarter over the previous month and a 5.2 percent over the corresponding month of the last fiscal year​

By Israr Khan
August 03, 2022



ISLAMABAD: In the first month of the current fiscal, the country’s exports shrank near a quarter over the previous month and a 5.2 percent over the corresponding month of the last fiscal year, the Pakistan Bureau of Statistics (PBS) reported on Tuesday.

Similarly, the imports also plunged by 38.3 percent over the previous month and 12.8 percent over the same month a year ago.
The monthly trade bulletin showed that goods exports in July 2022 stood at $2.219 billion against $2.92 billion in June 2022 and $2.43 billion in July 2021.
The country’s goods imports in July 2022 were $4.86 billion. In June 2022, the economy’s imports were $7.88 billion and in July 2021, the monetary volume of imports was $5.575 billion.
The trade deficit reduced by 18.3 percent to $2.64 billion in July 2022 against $3.235 billion in July 2021. In June 2022, the gap was at $4.96 billion.
A sizable cut in imports came after the government banned a number of luxury items to manage shortage of dollars in the economy.
The economy racked up a record-high trade deficit of $48.385 billion in the last fiscal year due to the sky-high oil imports bill. Imports during FY22 clocked in at $80.18 billion and exports $31.07 billion. During FY2020, the exports hit $25.3 billion, while imports came in at $56.38 billion, a deficit of $31.07 billion.
Services Trade Similarly, the PBS also reported the services trade performance data for July-June 2021-22. According to trade statistics for international services during July-June 2021/22, local companies imported more services than they exported. The trade deficit in services ballooned 105.7 percent to $5.175 billion in FY22 from $2.516 billion in FY21.
The economy hired foreign companies’ services for $12.14 billion, while it sold services abroad $6.97 billion. In the previous FY21, the country’s services exports (money inflow) stood at $5.945 billion and imports (outflow) were recorded at $8.46 billion. This represents an increase of 17.2 percent in services exports and 43.5 percent in imports.
In June 2022, services exports stood at $646 million and imports at $1.37 billion indicating a deficit of $727 million. In the previous month of May 2022, exports were recorded at $498 million and imports at $995 million with a deficit of $497 million.
During the month under review, exports went up by 29.7 percent and imports by 37.9 percent when compared to the previous month.
Comparing June 2022’s services trade performance with the same month of the last year, exports jumped 11.75 percent and imports also surged 57.6 percent.
In June 2021, services exports stood at $578 million and imports at $871 million, with a deficit of $293 million. Comparing the deficit of both months, it increased by 148 percent in June 2022 over the corresponding month of last year.

July exports, imports fall amid economic slowdown

ISLAMABAD: In the first month of the current fiscal, the country’s exports shrank near a quarter over the previous month and a 5.2 percent over the corresponding month of the last fiscal year,...

www.thenews.com.pk

July exports down 24pc to $2.219bn MoM​

Tahir Amin Updated about 4 hours ago

Facebook

Twitter

Whatsapp

Comments

ISLAMABAD: Pakistan’s exports declined by 24 percent on a month-on-month (MoM) basis in July 2022 and remained $2.219 billion compared to $2.918 billion in June 2022, says the Pakistan Bureau of Statistics (PBS).
The bureau released imports, exports, and trade balance data on Tuesday, according to which, the trade deficit narrowed by 46.76 percent on MoM and stood at $2.642 billion in July 2022 compared to $4.962 billion in June 2022.
Imports declined by 38.31 percent on MoM basis and remained $4.861 billion in July 2022 compared to $7.880 billion in June 2022. Trade deficit narrowed by 18.33 percent on a year-on-year (YoY) basis and remained $2.642 billion in July 2022 compared to $3.235 billion in July 2021. Exports declined by 5.17 percent on YoY basis and remained $2.219 billion in July 2022 compared to $2.340 billion in July 2021.
Imports declined by 12.81 percent on YoY basis and remained $4.861 billion in July 2022 compared to $5.575 billion in July 2021.
Copyright Business Recorder, 2022

July exports down 24pc to $2.219bn MoM

ISLAMABAD: Pakistan’s exports declined by 24 percent on a month-on-month (MoM) basis in July 2022 and remained...

www.brecorder.com

 

[Olympus81]

Bad news. But not shocking.

 

[SD 10]

Sdakay jaun men in imports ki hakoomat kay!!!!!!!!

 

[koolio]

This is expected from a bunch clowns lead by Neutrals.

 

[Wood]

As per the SBP, the CAD has declined for the month of July. This was the primary intention behind cooling the economy. Pakistan's priority is to avoid a BoP crisis.

https://twitter.com/x/status/1553810491952226304

 

[Jango]

As per the SBP, the CAD has declined for the month of July. This was the primary intention behind cooling the economy. Pakistan's priority is to avoid a BoP crisis.

https://twitter.com/x/status/1553810491952226304

Am I seeing this correctly?

The official SBP account says "1) Pakistan’s problems are temporary..."

Our problems are temporary? Are you freaking kidding me?

 

[SD 10]

Am I seeing this correctly?

The official SBP account says "1) Pakistan’s problems are temporary..."

Our problems are temporary? Are you freaking kidding me?

so living on loan for the last 70 years is a temporary problem for them

 

[Jango]

so living on loan for the last 70 years is a temporary problem for them

Pata nhn kia sasti chars kar kay bethe huay hain yeh.