PAKISTAN’S TRADE DEFICIT SWELLS BY 34%

[FOOLS_NIGHTMARE]

Pakistan’s trade deficit widened by 34 per cent in the outgoing fiscal year (FY2020-21) from a year ago, data released by the Pakistan Bureau of Statistics (PBS) showed.

During the fiscal year 2020-21, the trade deficit widened by 34.10 to $31.05 billion from $23.15bn during the July-June period of the fiscal year 2019-20, according to figures.

Exports grew by 18.11pc to $25.26 bn during July-June 2020-21 from $21.39bn over the corresponding period of last year.

Whereas, the import bill ballooned by 26.42pc to $56.32 bn during the 12 months of the outgoing fiscal year as compared to last year’s same period when imports were recorded at $44.53 bn.

Earlier, Adviser to the Prime Minister on Commerce and Trade Abdul Razad Dawood tweeted: “The MOC is pleased to inform that our exports to the United Kingdom increased by 33% to $2.025 billion during FY’21 as compared to $ 1.526 billion during FY’20, an increase of $499 million.”

“The UK is a very important trading partner & is the first time that our exports have crossed $2 billion mark.”

Pakistan's trade deficit swells by 34%

ISLAMABAD: Pakistan’s trade deficit widened by 34 per cent in the outgoing fiscal year (FY2020-21) from a year ago, data released by the Pakistan Bureau

arynews.tv

Pakistan’s trade deficit swells by 34% - Daily Times

Pakistan’s trade deficit swells by 34%

dailytimes.com.pk

Trade deficit swells to $30.8bn in FY21

Commerce adviser says the import bill has increased mainly due to wheat and sugar imports.

www.dawn.com

 

[Pakistan Space Agency]

Lol, $31 billion.

Not far now from PML-Ns trade deficit of $40 billion for 2017-2018 which PTI repeated like parrots calling it pure evil.

Now, let's listen to excuses from PTI experts and how all of this is now apparently Halal and good.

 

[Chakar The Great]

A lot of machinery is being imported. This will soon be reflected in increase in exports.

 

[Mk-313]

Sometimes when the news is $31 billion or $50 billion. It doesn’t give the impression of a country. Kinda feels like a Fortune 500 company’s balance sheet

 

[FOOLS_NIGHTMARE]

Lol, $31 billion.

Not far now from PML-Ns trade deficit of $40 billion for 2017-2018 which PTI repeated like parrots calling it pure evil.

Now, let's listen to excuses from PTI experts and how all of this is now apparently Halal and good.

The opposition seems to be happy giving this Govt its full tenure, Call it MUK MUKKA .

 

[Winchester]

Lol, $31 billion.

Not far now from PML-Ns trade deficit of $40 billion for 2017-2018 which PTI repeated like parrots calling it pure evil.

Now, let's listen to excuses from PTI experts and how all of this is now apparently Halal and good.

In the end, the Current Account Deficit figure matters. If the govt. has that in control then it is a good job.

However, a CAD like the one left by Noon will be considered a failure.

 

[Mugen]

The opposition seems to be happy giving this Govt its full tenure, Call it MUK MUKKA .

You are such a snake... Pakistan is at war and then we have snakes like you, supporting the most corrupt politicians who are actually responsible for bringing Pakistan to its knees. Shame on you.

 

[FOOLS_NIGHTMARE]

Pakistan is at war

We have always been at war, anything new!

supporting the most corrupt politicians

Time will tell who were the real corrupt and traitors, just wait a bit more.

responsible for bringing Pakistan to its knees

Pakistan has never been so vulnerable and low in its history, who should we thank.

Shame on you.

Bro take a chill pill, I respect you. Nevertheless those who have casted aspertions and enjoyed it in recent years will have to bear the consequences at least a hundred times. Call it KARMA or DIVINE RETRIBUTION.

 

[Pakistan Space Agency]

You are such a snake... Pakistan is at war and then we have snakes like you, supporting the most corrupt politicians who are actually responsible for bringing Pakistan to its knees. Shame on you.

When India was threatening Pakistan with surgical strikes in 2016, this is PM Imran Khan's response:
PTI to boycott joint parliamentary session on Kashmir


After PM Imran Khan allows Indian annexation of Indian Occupied Kashmir without firing a single bullet, this was his response to an international conference on Kashmir:
Pakistan pulls out of KL summit to maintain 'neutrality'

 

[FOOLS_NIGHTMARE]

Pakistan's trade deficit widens by 32.9 per cent in fiscal 2021

Already burdened by high inflation, rising food prices, raised electricity charges, Pakistan's trade deficit widened by 32.9 per cent, or USD 7.616 billion, in the outgoing fiscal year (FY21).

The deficit was caused by lower export proceeds and higher than expected imports, shared the Ministry of Commerce data on Thursday, reported Dawn.


The trade gap has been widening since December 2020, mainly led by exponential growth in imports and comparatively slow growth in exports. The annual import bill went up by 25.8 per cent, or USD 11.517 billion, to USD 56.091 billion in FY21 from USD 44.574 billion over the corresponding months of last year.

In June 2021, the import bill reached an all-time high of USD 6.052 billion against USD 3.719 billion over the last year month, indicating a growth of 62.7 per cent. On a month-on-month basis, the import bill increased by 14 per cent.

Adviser on Commerce Razak Dawood told a news conference that the import bill increased mainly due to wheat and sugar imports. He said the import value of wheat and sugar stood at USD 1.2 billion in the outgoing fiscal year, reported Dawn.

Similarly, he said the import value for cotton stood at USD 1.2 billion due to shortage in domestic production while machinery imports stood at over USD 8 billion -- an indication of expansion in the industrial base.

The import bill is also rising mainly due to the increased imports of petroleum, soybean, machinery, raw material and chemicals, mobile phones, fertilisers, tyres and antibiotics and vaccines.

The annual trade deficit reached USD 30.796 billion in July-June FY21 from USD 23.180 billion over the corresponding period of last year. This may pose some challenges for the government in controlling external accounts, reported Dawn.

Pakistan's trade deficit widens by 32.9 per cent in fiscal 2021

The country is burdened by high inflation, rising food prices, raised electricity charges

www.business-standard.com

 

[Sulman Badshah]

Subsidized loan on Machinery import letter of credit will increase imports further

 

[Dr-who]

The import ballooning is because of $2.4b of wheat/sugar, $8b of machinery which is a good sign as it means industrial expansion and hence exports.
Overall CAD has been positive.
So the this is good news instead of trying to show this as bad news.

 

[Kingslayerr]

The import ballooning is because of $2.4b of wheat/sugar, $8b of machinery which is a good sign as it means industrial expansion and hence exports.
Overall CAD has been positive.
So the this is good news instead of trying to show this as bad news.

From where did you get this 8$ billion worth of machinery number?

 

[doorstar]

From where did you get this 8$ billion worth of machinery number?

In 2020, Pakistani importers spent the most on the following 10 subcategories of machinery.

1. Computers, optical readers: US$307 million (down -2.4% from 2019)
2. Vapour-based boilers: $259.7 million (up 95.9%)
3. Air or vacuum pumps: $257.3 million (down -7.8%)
4. Liquid pumps and elevators: $167.2 million (down -23.8%)
5. Textile fiber work machines: $159.3 million (down -33.6%)
6. Miscellaneous machinery: $147 million (down -11.4%)
7. Nuclear reactors, fuel elements: $135.2 million (up 72.3%)
8. Taps, valves, similar appliances: $123.8 million (down -29.4%)
9. Air conditioners: $122.1 million (down -18.7%)
10. Centrifuges, filters and purifiers: $118.4 million (down -7.4%)

Among these import subcategories, Pakistani purchases of vapour-based boilers (up 95.9%) and nuclear reactors including fuel elements (up 72.3%) grew from 2019 to 2020.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of machinery -related imports among Pakistani businesses and consumers.
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In 2020, Pakistani importers spent the most on the following 10 subcategories of electronics and related products.

1. Phone system devices including smartphones: US$2 billion (up 43.5% from 2019)
2. Electric generating sets, converters: $535 million (up 48.3%)
3. Electrical converters/power units: $475.8 million (down -17%)
4. Solar power diodes/semi-conductors: $364.8 million (up 0.6%)
5. Unrecorded sound media: $123.5 million (down -34.4%)
6. Electric motors, generators: $106.1 million (down -10.2%)
7. Electrical/optical circuit boards, panels: $105.6 million (down -37.3%)
8. Insulated wire/cable: $88.9 million (down -57.4%)
9. Lower-voltage switches, fuses: $66.5 million (down -14.4%)
10. Electric storage batteries: $62.5 million (down -22.1%)

Among these import subcategories, Pakistani purchases of electric generating sets and converters (up 48.3%), phone system devices including smartphones (up 43.5%) and solar power diodes or semi-conductors (up 0.6%) grew from 2019 to 2020.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of electronics-related imports among Pakistani businesses and consumers.
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In 2020, Pakistani importers spent the most on the following 10 subcategories of iron and steel.

1. Iron or steel scrap: US$1.7 billion (up 10.1% from 2019)
2. Hot-rolled iron or non-alloy steel products: $446.9 million (down -6.2%)
3. Flat-rolled other alloy steel products: $326.9 million (up 8.9%)
4. Flat-rolled iron or non-alloy steel products (plated/coated): $213.1 million (down -26.8%)
5. Cold-rolled iron or non-alloy steel products: $137.1 million (up 17.0%)
6. Flat-rolled stainless steel items: $125.0 million (down -2.0%)
7. Coiled other alloy steel bars, rods: $51.5 million (down -9.0%)
8. Iron ferroalloys: $48.1 million (up 3.1%)
9. Flat-rolled non-alloy steel products: $26.4 million (down -14.7%)
10. Flat-rolled thin alloy steel products: $20.1 million (down -47.8%)

Among these import subcategories, Pakistani purchases of cold-rolled iron or non-alloy steel products (up 17%), iron or steel scrap (up 10.1%) then flat-rolled other alloy steel products (up 8.9%) grew at the fastest pace from 2019 to 2020.

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In 2020, Pakistani importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Processed petroleum oils: US$4.2 billion (down -22.1% from 2019)
2. Petroleum gases: $2.4 billion (down -31.2%)
3. Crude oil: $2.3 billion (down -42.1%)
4. Coal, solid fuels made from coal: $1.2 billion (down -10.8%)
5. Petroleum oil residues: $57.7 million (up 15.5%)
6. Electrical energy: $34.8 million (up 11.7%)
7. Coal tar oils (high temperature distillation): $31.3 million (down -7.9%)
8. Coke, semi-coke: $30.6 million (down -16.9%)
9. Petroleum jelly, mineral waxes: $9.6 million (down -17.7%)
10. Asphalt/petroleum bitumen mixes: $3.5 million (up 698.4%)

Among these import subcategories, Pakistani purchases of asphalt and petroleum bitumen mixes (up 698.4%), petroleum oil residues (up 15.5%) and electrical energy (up 11.7%) grew from 2019 to 2020.
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Pakistan’s Top 10 Imports

by Daniel Workman
Pakistan imported an estimated US$45.8 billion worth of goods from around the globe in 2020, down by -2.6% since 2016 and down by -8.7% from 2019 to 2020.

Given Pakistan’s population of 208.6 million people, its total $45.8 billion in 2020 imports translates to an estimated $220 in yearly product demand from every person in the South Asian country.

From a continental perspective, suppliers in Asia provide almost three-quarters (70.7%) of total Pakistani imported goods. Smaller percentages originate from Europe (13.1%), North America (7%), Africa (5.8%), Latin America (2.5%) excluding Mexico but including the Caribbean, then Oceania (0.8%) led by Australia.

 

[TNT]

After all the measjres and traiffs there is still huge jump in imports, why?? Something is wrong or the governing ministers are morons.