Trade deficit balloons by 20pc in 9 months

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Islamabad

Pakistan’s trade deficit has ballooned by 20 percent during the first nine months (July-March) of the current financial year, growing to $20.83 billion from $17.34 billion over the corresponding period of the preceding fiscal year.

According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit for the month of March 2021 was recorded at $3.395 billion compared to a deficit of $2.53 billion from February’21, showing an increase of 30 percent.

On a yearly basis, the trade deficit increased by 2.19 times, from the deficit of $1.498 billion in March 2020 to $3.395 billion in March 2021.

Exports from Pakistan during March 2021 amounted to $2.365 billion as compared to $ 2.068 billion in the previous month, showing an increase of 14.36% MoM and by 30.66 percent YoY, as compared to $1.810 billion in the same month a year ago.—TLTP