Pakistan trade deficit reaches a new historic high

Pakistan trade deficit reaches a new historic high

KARACHI - Pakistan trade deficit have touched a new historic high in the 11 month of the new fiscal year.

It widened by 13.40 percent whereas exports in May registered an increase of 32 percent.

According to the figures released by the Pakistan Bureau of Statistics the May trade deficit widened by 6.5 percent to US$3.670 billion, while the trade deficit in 11 months reached to new high of US$33.886 billion.

Exports in May increased 32 percent to US$2.1 billion, while the exports in 11 months rose 15.28percent to US$21.346 billion.

However, when compared to July 2016, exports recorded a growth of 10.58 percent from the level of 1.475 billion dollars.

The pace of imports also showed an upward trajectory and recorded a growth 14.77 percent to US$5.814 billion dollars, the data said.