Pakistan trade deficit soars drastically in FY 2016-17
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ISLAMABAD - Pakistan trade deficit swelled by 40 percent to 26.55 billion dollars in ten months as the imports outpaced exports as shipments of machinery and power units raised sharply.
Pakistan Bureau of Statistics released statement for the July 2016 to April 2017, showing that imports registered galloping rise and totaled at 43.47 billion dollars as compared with 36.26 billion dollars of the same period in corresponding year. Imports rose 19.88 percent during the period under review.
Trade deficit has been soared by 40 percent mainly on back of higher imports of machinery, power units and other products which mostly came under the development of CPEC, draining country’s coffers.
The exports are unmoved and since long have been low ebb. Exports during July 2016 to April 2017 showed a drop of 2.29 percent to 16.918 billion dollars as compared to 17.314 billion dollars of the same period previous year.
Pakistan Bureau of Statistics released statement for the July 2016 to April 2017, showing that imports registered galloping rise and totaled at 43.47 billion dollars as compared with 36.26 billion dollars of the same period in corresponding year. Imports rose 19.88 percent during the period under review.
Trade deficit has been soared by 40 percent mainly on back of higher imports of machinery, power units and other products which mostly came under the development of CPEC, draining country’s coffers.
The exports are unmoved and since long have been low ebb. Exports during July 2016 to April 2017 showed a drop of 2.29 percent to 16.918 billion dollars as compared to 17.314 billion dollars of the same period previous year.
