Pakistan’s Trade Deficit Widens by Over 32% in December 2020

[Kabira]

Pakistan’s trade deficit widened by 32.04 percent to $2.683 billion in December 2020 as compared to $2.032 billion in December 2019, data released by the Pakistan Bureau of Statistics (PBS) showed on Thursday.

PBS released trade figures showing that country’s imports remained $5.035 billion in December 2020 compared to $4.020 billion in December 2019, registering a remarkable 25.25 percent growth.

The country’s exports witnessed 18.31 percent growth and remained $2.352 billion in December 2020 compared to $1.988 billion in December 2019.

On a month-over-month comparison, the data revealed that Pakistan’s trade deficit widened by 25.55 percent to $2.683 billion in December 2020 compared to $2.137 billion in November 2020.

The country’s imports remained $5.035 billion in December 2020 compared to $4.311 billion in November 2020, registering 16.79 percent growth.


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Exports witnessed 8.19 percent growth and remained $2.352 billion in December 2020 compared to $2.174 billion in November 2020.

On a half-yearly basis, the data showed that the trade deficit for Pakistan widened by 6.44 percent to $12.423 billion in July-December 2020, compared to $11.671 billion in July-December 2019.

Trade figures show that country’s imports remained $24.521 billion in July-December 2020 compared to $23.195 billion in July-December 2019, registering a 5.72 percent growth.

Pakistan’s exports witnessed 4.98 percent growth and remained $12.098 billion in July-December 2020 compared to $11.524 billion in July-December 2019.

Pakistan’s Trade Deficit Widens by Over 32% in December 2020

Pakistan’s trade deficit widened by 32.04 percent to $2.683 billion in December 2020 as compared to $2.032 billion in December 2019, data released by the

propakistani.pk

 

[El Sidd]

Pakistan is bankrupt.

Mafia that loots it unchallenged need these numbers to loot IMF further.

 

[Rizwan Alam]

Traders/importers are the real culprits. The govt can easily curb the imports of some really basic items. We are importing combs, nail cutters, cotton buds, rubber bands, needles, nails, toothpicks... Such basic and non technical items. But our trader is not ready to manufacture anything here... Easy money...import and sell f**k your country

 

[ziaulislam]

Along long as CAD is less then -1% it isnot an issue
Currently its positive

 

[Mrc]

Current account probably still remain positive despite this

May represent post covid economic activity but import of non essential goods must be strictly checked

 

[m52k85]

yar stop nitpicking numbers. Opposition needs to realise PTI has turned around the criminal state of CA that was left to them. PTI also needs to realise it has to do something significant, in a country like Pakistan we can not afford to import agri products, and other non-essentials like cooking oil, tea, cars and smart phones. These should be handled internally, for the 20bn odd exports we do we should only be importing 10bn of oil/gas and another 10bn of technology/ basic machinery to develop capacity under the other heads. That will give a trade deficit of zero.

As to the remittances, given the geo-political situation that is developing, these should be treated as fleeting and used to build strategic forex reserves for when the shit hits the fan. In 4 years we can 'potentially' reach 100 bn reserves if this is followed.

 

[Patriot forever]

Pakistan’s trade deficit widened by 32.04 percent to $2.683 billion in December 2020 as compared to $2.032 billion in December 2019, data released by the Pakistan Bureau of Statistics (PBS) showed on Thursday.

PBS released trade figures showing that country’s imports remained $5.035 billion in December 2020 compared to $4.020 billion in December 2019, registering a remarkable 25.25 percent growth.

The country’s exports witnessed 18.31 percent growth and remained $2.352 billion in December 2020 compared to $1.988 billion in December 2019.

On a month-over-month comparison, the data revealed that Pakistan’s trade deficit widened by 25.55 percent to $2.683 billion in December 2020 compared to $2.137 billion in November 2020.

The country’s imports remained $5.035 billion in December 2020 compared to $4.311 billion in November 2020, registering 16.79 percent growth.


ALSO READ

Pakistan and Korea Reiterate Hopes of Improving Bilateral Trade Relations

Exports witnessed 8.19 percent growth and remained $2.352 billion in December 2020 compared to $2.174 billion in November 2020.

On a half-yearly basis, the data showed that the trade deficit for Pakistan widened by 6.44 percent to $12.423 billion in July-December 2020, compared to $11.671 billion in July-December 2019.

Trade figures show that country’s imports remained $24.521 billion in July-December 2020 compared to $23.195 billion in July-December 2019, registering a 5.72 percent growth.

Pakistan’s exports witnessed 4.98 percent growth and remained $12.098 billion in July-December 2020 compared to $11.524 billion in July-December 2019.

Pakistan’s Trade Deficit Widens by Over 32% in December 2020

Pakistan’s trade deficit widened by 32.04 percent to $2.683 billion in December 2020 as compared to $2.032 billion in December 2019, data released by the

propakistani.pk

Remittances this month will cover for it mostly, would not trickle down to sizable impact on current account. 5 billion is significant, I am intrigued to see what has lead to this increase in import, breakdown is important. Is it a short term one time import expansion related to industry, or people have gone to their old bad habits and government has relaxed some of it's restrictions?

 

[xyxmt]

textiles are increasing their capacity

 

[muhammadhafeezmalik]

Remittances this month will cover for it mostly, would not trickle down to sizable impact on current account. 5 billion is significant, I am intrigued to see what has lead to this increase in import, breakdown is important. Is it a short term one time import expansion related to industry, or people have gone to their old bad habits and government has relaxed some of it's restrictions?

Sugar & wheat import.

 

[Patriot forever]

Sugar & wheat import.

Nope that is not the case, sugar and wheat import had peaked in the first quarter now on a decline, especially after crushing season started.