Pakistan trade deficit worsens to $15.1b

PTI, Islamabad: Pakistan’s trade deficit worsened to USD 15.1 billion in the first eight months of the ongoing fiscal year, despite steep decline in global crude oil prices and duty-free status of its exports to the European markets.
The trade bulletin on Friday released by Pakistan Bureau of Statistics (PBS) reported the value of imports was more than double the value of exports for the second month in a row. The Express Tribune reported that the trade deficit - gap between exports and imports - widened 4.22 per cent to USD 15.1 billion from July to February.
The trade deficit was USD 612 million higher than reported in the comparative period of the last fiscal year.
It almost nullified the USD 728 million gains Pakistan made due to increase in workers’ remittances during July to February.
The PBS would release the details of imports and exports for July-February later.

Pakistan trade deficit worsens to $15.1b

PTI, Islamabad: Pakistans trade deficit worsened to USD 15.1 billion in the first eight months of the ongoing fiscal year, despite steep decline in global crude oil prices and duty-free status of its exports to the European markets. The trade bulletin on Friday released by Pakistan Bureau of Statistics (PBS) reported the value of imports was more than double the value of exports for the second month in a row. The Express Tribune reported that the trade deficit - gap between exports and imports - widened 4.22 per cent to USD 15.1 billion from July to February. The trade deficit was USD 612 million higher than reported in the comparative period of the last fiscal year. It almost nullified the USD 728 million gains Pakistan made due to increase in workers remittances during July to February. The PBS would release the details of imports and exports for July-February later.