Foreign investment jumps by 137% in first quarter of FY20: SBP data
Total foreign investment into the country jumped by 137 per cent, or $512 million, in the first quarter of the financial year 2019-20, the State Bank of Pakistan (SBP) reported on Thursday.
The total investment during the July-September 2019 period clocked in at $886 million as compared to $374m during the same period in 2018.
In a breakup of the total investment, the central bank posted a 51pc increase in foreign private investment during the period under review. The investment under this head increased to $564m during the three-month period in contrast with $374m during the same quarter last year.
Foreign direct investment (FDI), however, decreased by 3pc during the period under review to $542 million as compared to $559m during the same months last year.
On a month-on-month basis, total foreign investment rose to $622m during September 2019 as compared to $126m during the same month in 2018. The FDI also increased to $385m during September as opposed to $182m during September 2018.
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Pakistan’s Trade Deficit Reduces By 34 Percent
The first time in the last 15 years, exports are rising and imports are decreasing simultaneously
The current trade deficit has shrunk to 7.77 billion from $11.06 billion compared to the parallel period last year.
- On monthly premises, the trade deficit fell by 29.43pc to $2.05bn in October from $2.9bn over the relating month a year ago.
Pakistan’s trade deficit fell by 34 percent in the initial four months of the current fiscal year 2019-2020. The country was only able to achieve such success due to an increase in exports and a massive deduction in imports of non-essential goods.
The current trade deficit has shrunk to 7.77bn from $11.06bn compared to the parallel period last year.
According to the data by the Pakistan Bureau of Statistics (PBS) on Thursday because of government’s restorative measures to hinder imports is the reason for the massive decline in the current fiscal year to lessen pressures on external trade.
If this is a failed Govt, than what the hell is this ^^^ ?