ISLAMABAD: State Bank of Pakistan data revealed that Pakistani exports have dropped by 10% in July-Feb fiscal year 2015-16. Pakistan’s total exports were recorded at $14.4 billion in first eight month of fiscal year 2015-16 from July-Feb.
As per details, Pakistani exports had been recorded at $16 billion in the same period on previous fiscal year 2014-15 which shows 9.9% decline in exports.
On the other hand Pakistani imports have also decreased by 5.7% in first eight months of fiscal year 2015-16. Pakistan imported goods worth $26.3 billion in July-Feb fiscal year 2015-16 while in the same period of previous fiscal year Pakistan imports had been valued at $27.9 billion which shows 5.7% decline in imports.
State Bank data further showed that the country current account balance remained surplus by $157 million during the month of February which has reduced the deficit of first 8 months of fiscal year.
State Bank further stated that $1.86 billion deficit was recorded in country current account during July-Feb fiscal year 2015-16 while in the same period of previous fiscal year the deficit stood at $1.95 billion.
Country current account would have to face deficit of $ 590 million but the deficit had been clocked up in Feb by $157 million due to improvement in payment balance.