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Trade deficit down 13.92% in first 10mths
KARACHI: Pakistan trade deficit continued to shrink as it witnessed 13.92 percent decline to reach at $12.23 billion on the sustainable exports growth in the 10 months of the current fiscal year 2009-10.
The Federal Bureau of Statistics (FBS) reported that exports stood at $15.88 billion in July to April with a growth of eight percent as against $14.7 billion exports of the corresponding period of last fiscal year. The countrys imports have maintained a downward trend in the period under review though it declined slightly by 2.7 percent to $28.12 billion by the end of April. The imports stood at 28.92 billion in the previous fiscal year 2009-10.
On monthly basis, exports plunged 3.8 percent to $1.737 billion in April, which were $1.807 billon in March. The imports also saw a similar declining trend, down by 8.26 to reach $3.015 billion in April as compared to $3.287 billion in March. The balance of trade saw a negative growth of 13.61 percent to $1.27 billion. The exports and imports disparity seems to close in the upcoming months as the balance of trade gradually witnessed constant decline in deficit. In December 2009, the trade deficit was recorded 29 percent decline on the higher exports and contained imports. However, in the last couple of months, the balance of trade showed only 13.92 percent growth on the declining exports figures.
Higher oil imports of costly petroleum products have been increasing the imports bill constantly during the last few months.
In the last month, trade deficit registered 13.43 percent growth as compared with April 2009. Last year, it reached $1.47 billion. The exports grew by 31.45 percent in April 2010 as compared with $1.32 billion exports of last year.
muhammad yasir
Daily Times - Leading News Resource of Pakistan
KARACHI: Pakistan trade deficit continued to shrink as it witnessed 13.92 percent decline to reach at $12.23 billion on the sustainable exports growth in the 10 months of the current fiscal year 2009-10.
The Federal Bureau of Statistics (FBS) reported that exports stood at $15.88 billion in July to April with a growth of eight percent as against $14.7 billion exports of the corresponding period of last fiscal year. The countrys imports have maintained a downward trend in the period under review though it declined slightly by 2.7 percent to $28.12 billion by the end of April. The imports stood at 28.92 billion in the previous fiscal year 2009-10.
On monthly basis, exports plunged 3.8 percent to $1.737 billion in April, which were $1.807 billon in March. The imports also saw a similar declining trend, down by 8.26 to reach $3.015 billion in April as compared to $3.287 billion in March. The balance of trade saw a negative growth of 13.61 percent to $1.27 billion. The exports and imports disparity seems to close in the upcoming months as the balance of trade gradually witnessed constant decline in deficit. In December 2009, the trade deficit was recorded 29 percent decline on the higher exports and contained imports. However, in the last couple of months, the balance of trade showed only 13.92 percent growth on the declining exports figures.
Higher oil imports of costly petroleum products have been increasing the imports bill constantly during the last few months.
In the last month, trade deficit registered 13.43 percent growth as compared with April 2009. Last year, it reached $1.47 billion. The exports grew by 31.45 percent in April 2010 as compared with $1.32 billion exports of last year.
muhammad yasir
Daily Times - Leading News Resource of Pakistan
