Pakistan’s trade deficit increases 134% in November

KARACHI: The import bill of Pakistan recorded a hike in November, 2021, as the country witnessed a growth of more than 82 per cent in imports on a year-on-year basis.

According to data released by the Pakistan Bureau of Statistics (PBS), the imports for November 2021, reached $7.8 billion, compared with $4.3 billion in the same month last year, witnessing a growth of 82.9 per cent.

The trade deficit in November increased 134 per cent to reach $5 billion, compared with $2.2 billion in the same month of the last year.

In the first five months of the fiscal year 2021/22, the import bill of the country recorded an increase of more than 69 per cent, as it surged to $33 billion, compared with $20 billion during the same period of the last year, the data showed.

The trade deficit during July-November of the current fiscal year recorded an increase of 112 per cent, mounting to $20.6 billion, compared with $9.8 billion during the same period of the last year.

The country’s exports during November reached the historic monthly high of $2.903 billion, up 33 per cent, compared with $2.174 billion in the same month of the last year.

The exports during the first five months of the current financial year recorded an increase of 27 per cent to reach $12.365 billion, compared with $9.747 billion during the same period of the last year.

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