Imports fall, exports rise as government strives to plug deficit thumbnail

Imports fall, exports rise as government strives to plug deficit

Pakistan’s total imports decreased by $1 billion from $7.9 billion to $6.9 billion in December 2021 as compared to November 2021. The import projection for the month was $6.2 billion. 

The data was shared by the Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood in a tweet. 

He added that in the same period, exports increased by 16.7% from Rs2.36b to $2.76b. However, they were still lower than the monthly target of $2.8b. 

In the first half of the fiscal year 2021-22 (July-December), the total magnitude of exports stood at $15.12b as compared to $12.11b in the corresponding period last year. 

Pakistan’s current account deficit, the difference between exports and imports, has been increasing over the past few months.

In November, the deficit stood at $5.10b, the highest trade deficit recorded in a single month. The $4.14 billion deficit in December is significantly lower than the previous month.

During the first five months of current fiscal year, Pakistan exported goods $12.36b worth, while imported items $33.11b worth. The trade deficit stood at $20.74b. 

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