Bad news for cash stripped Pakistan
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In the country, the rate of dollar inflow has further slowed down. A revelation during the two months showed a significant decrease in Pakistan's imports and exports.
In the initial two months of the new financial year, July and August, Pakistan could only generate slightly over $4 billion in exports, while there was a substantial decrease of $500 million in gold imports.
According to the Pakistan Bureau of Statistics, in the first two months of the ongoing financial year, Pakistan's trade deficit stood at $3.763 billion, which is 40% lower compared to the same period last year. During the same period last year, the country's trade deficit had reached $6.302 billion.
In August, the trade deficit amounted to $2.126 billion, which is 30% higher than July and 40% lower than August of the previous year. In July, the trade deficit was $1.637 billion, while it had reached $3.571 billion in August of the previous year.
According to the figures, in the first two months of the ongoing financial year, the volume of the country's imports amounted to $4.431 billion, which is 6% less compared to the same period last year. During the same period last year, the volume of the country's imports had reached $4.733 billion. In August, the volume of the country's imports reached $2.363 billion, which is higher than the $2.068 billion in July but lower than the $2.483 billion in August of the previous year.
According to the figures, in the first two months of the ongoing financial year, there was a 26% decrease in the country's income on an annual basis, with the volume of the country's income reaching $8.194 billion, which is lower than the $11.035 billion during the same period last year.
In August, the country's income amounted to $4.489 billion, which is higher than the $3.705 billion in July but lower than the $6.054 billion in August of the previous year.
