Whopping $48.38bn trade deficit recorded during FY22

Pakistan's exports imports

Karachi: Pakistan’s trade imbalance recorded a whopping increase of 55.7pc during the fiscal year 2021-22, taking the total imbalance between imports and exports to $48.38 billion.

According to a report published by the Pakistan Bureau of Statistics, the trade deficit jumped to $48.38 billion against $31.07 billion recorded a year earlier (FY-2020-21).

trade deficit
Source: Pakistan Bureau of Statistics

The report shows that during this period, Pakistan’s export grew from FY-21’s $25.3 billion to $31.8 billion, registering a 25.51pc increase.

Compared to this increase in export, the import bill of the country expanded significantly too, from $56.4 billion to $80 billion, a whopping 42pc increase.

The total difference between the country’s imports and exports clocked in at $48.38 billion.

In June alone, the trade deficit grew by 36pc to $4.96 billion compared to the same month’s $3.6 billion last year.

Furthermore, compared to May 2022, the deficit grew by 16.5pc to $4.8 billion from May’s $4.15 billion.

Previous articleSBP’s forex reserves fall by $389 million
Next articleChris Froome ruled out of Tour de France