Pakistan’s trade deficit widened by 55.29 percent during the fiscal year 2021-22, and reached $48.259 billion compared to $31.076 billion during the same period of 2020-21, revealed the Pakistan Bureau of Statistics (PBS) data released on Monday.

According to the PBS monthly summary on foreign trade statistics for June 2022, the country’s exports increased by 25.51 percent and stood at $31.760 billion in the fiscal year 2021-22, compared to $25.304 billion during the same period of 2020-21.

Imports increased by 41.93 percent during the fiscal year and stood at $80.019 billion compared to $56.380 billion during the same period of the previous year, the PBS stated.

According to the PBS, the country’s trade deficit widened by 33.41 percent on a year-on-year basis, jumping from $3.624 billion in June 2021 to $4.835 billion in June 2022.

Imports registered an increase of 21.57 percent on a year-on-year basis and jumped from $6.352 billion in June 2021 to $7.722 billion in June 2022.

Further, exports registered 5.83 percent growth on a year-on-year basis and increased from $2.758 billion in June 2021 to $2.887 billion in June 2022.

According to the PBS data, the trade deficit widened by 16.48 percent on a month-on-month basis from $4.151 billion in May 2022 to $4.835 billion in June 2022.

Imports increased by 13.94 percent on a month-on-month basis and stood at $7.722 billion in June 2022 compared to $6.777 billion in May 2022.

Exports increased by 9.94 percent on a month-on-month basis and stood at $2.887 billion in June 2022 compared to $2.626 billion in May 2022.

Source: Pro Pakistan