Pakistan's declining exports and rising trade deficit
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KARACHI: Pakistan trade deficit has exceeded 19 billion dollar in 11 months from July to May with 12% reduction in national exports.
As per details, Pakistan exports remained at Rs. 21.85 billion dollar in 11 months of current fiscal year with 12 percent decline in exports while Pakistan imports were recorded at Rs. 41.45 billion dollar during the same period.
In this way, trade deficit was recorded at 19.59 billion dollar during July to May current fiscal year.
According to experts, energy crisis adversely affected industrial production during fiscal year 2015-16 but industrial production is being expected to rise in next fiscal year.
Experts further added that Pakistan exports and industrial production are likely to increase in next fiscal year 2016-17 due to uninterrupted supply of gas to industries after LNG import.
Pakistan exports and industrial production would also increase after setting interest rate at 3% for export refinance.
