Trade deficit swells by 40pc in July-April

Trade deficit swells by 40pc in July-April

Pakistan Trade Deficit News

KARACHI: Pakistan’s trade deficit swelled by 40 percent to $26.55 billion 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 as compared with $36.26 billion 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 as compared to $17.314 billion of the same period previous year.

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