In a setback, Pakistani exports decline in month of May in PMLN government tenure
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*ISLAMABAD: Trade deficit widened by 57.85 per cent during the first 11 months (July-May) of the current fiscal year 2021-22, and reached $43.334 billion compared to $27.452 billion during the same period of 2020-21, revealed the Pakistan Bureau of Statistics (PBS) data.*
The country’s exports registered negative growth of 10.22 per cent on a month-on-month (MoM) basis, decreasing from $2.897 billion in April 2022 to $2.601 billion in May 2022.
According to the PBS monthly summary on foreign trade statistics for May 2022, the country’s exports increased by 27.78 per cent and remained $28.848 billion in the first eleven months of the current fiscal year, 2021-22, compared to $22.576 billion during the same period of 2020-21.
Imports increased by 44.28 per cent during the first eleven months (July-May) of the current fiscal year and stood at $72.182 billion compared to $50.028 billion during the same period of the previous year, the PBS stated.
According to the PBS, the country’s trade deficit widened by 11.50 per cent on a year-on-year basis, jumping from $3.626 billion in May 2021 to $4.043 billion in May 2022.
Imports registered an increase of 25.43 per cent on a year-on-year basis and jumped from $5.297 billion in May 2021 to $6.644 billion in May 2022.
Further, exports registered 55.66 per cent growth on a year-on-year basis and increased from $1.671 billion in May 2021 to $2.601 billion in May 2022.
