Trade deficit soars to $5.8b for recent quarter: PBS

Staff Report

ISLAMABAD: The Pakistan Bureau of Statistics (PBS) released on Monday the quarterly figures of Pakistani foreign trade status noting $5.8 billion in the trade deficit, media reported on Tuesday.
The numbers released Monday suggested a 19.49 per cent surge in losses in preceding month September when compared with the figures of the corresponding period last year.
The PBS reported that this September saw a jump of $2.39 billion in trade deficit than September last year.
The quarter of the fiscal year 2020-21 comprising July, August and September reflected the excess in imports relative to the exports of the country.
However, the report noted an increase in exports by 18% in the month of September than the previous month.
The exports of the month of August were recorded to be $1.58 billion which expanded to $1.87 billion in September.
On the other hand, the imports saw an increase of 28 per cent compared to last month as well, soaring to $4.26 billion in the month of September.
In the month of August this year, the imports had marked $3.32 billion, the statistics board reported.
The total exports in the recent quarter have contracted by $50 million to stand at $5.46.