ISLAMABAD: Pakistan’s trade deficit widened by 34 per cent in the outgoing fiscal year (FY2020-21) since last year, data released by the Pakistan Bureau of Statistics (PBS) showed.
During the fiscal year 2020-21, the trade deficit widened by 34.10 percent to $31.05 billion from $23.15 billion during the July-June period of the fiscal year 2019-20, according to figures.
Exports grew by 18.11 percent to $25.26 billion during July-June 2020-21 from $21.39 billion over the corresponding period of last year.
On the other hand, the import bill ballooned by 26.42 percent to $56.32 billion during the 12 months of the outgoing fiscal year as compared to last year’s same period when imports were recorded at $44.53 billion.
Earlier, Adviser to the Prime Minister on Commerce and Trade Abdul Razad Dawood tweeted: “The MOC is pleased to inform that our exports to the United Kingdom increased by 33% to $2.025 billion during FY’21 as compared to $ 1.526 billion during FY’20, an increase of $499 million.”
The MOC is pleased to inform that our exports to the United Kingdom increased by 33% to $2.025 billion during FY’21 as compared to $ 1.526 billion during FY’20, an increase of $499 million. The UK is a very important trading partner & is the first time that our exports
— Abdul Razak Dawood (@razak_dawood) July 2, 2021
“The UK is a very important trading partner & is the first time that our exports have crossed $2 billion mark.”