KARACHI: Pakistan’s trade with the rest of the world worsened in first quarter of current fiscal year, as higher imports growth offset the improvement in exports. The overall trade deficit widened to $9.08 billion in July-September 2017 period, from $7.01 billion in the same period of previous fiscal year, the biggest gap between imports and exports in this year, according to the Pakistan Bureau of Statistics (PBS). Pakistan’s trade deficit increased to the highest point in three months, as gap between exports and imports in the first quarter of current fiscal year 2017-18 (FY18) widened the balance of trade by 29.75 percent. The overall exports in first quarter of FY18 increased by 10.84 percent, to $5.17 billion, as compared to $4.6 billion exports in corresponding period of previous fiscal year Imports in first quarter of FY18 also increased significantly by 22.19 percent to $14.2 billion as against $11.6 billion in the same period of FY17. The trade deficit rose to $9 billion in first quarter (July-September) of FY18, 29.75 percent higher than a first quarter FY16 deficit of $7 billion, the PBS reported Wednesday. Exports fell by 10.24 percent, from $ 1.9 billion in August 2017 to $ 1.7 billion in the September 2017. Similarly, imports dropped by 9.67 percent to $4.5 billion during the third month of new fiscal year, as compared to $ 4.9 billion by the end of August 2017. On yearly basis, during September 2017, the country saw an increase in exports and imports as Pakistan exported $ 1.67 billion worth of goods to the world that was 8.91 percent higher than exports worth of $1.53 billion in the same month of last fiscal year. Similarly, imports of the country registered 16.73 percent growth to $4.47 billion in the month of September 2017 as compared to $3.83 billion imports in corresponding month of FY17. As a result, country’s trade imbalance broadened by 21.97 percent in September 2017 to $2.79 billion, as against $2.29 billion of September 2016. However, on monthly basis, Pakistan’s trade deficit shrunk by 9.33 percent to $2.79 billion in September 2017 as compared to $3.08 billion trade balance in the month of August 2017. Published in Daily Times, October 12th 2017.