Exports increase by 7.12% in three quarters, by 30.44% in March

ISLAMABAD: The exports from the country increased by 7.12 percent during the first three quarters of the current fiscal year (2020-21) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

The exports from the country during July-March (2020-21) were recorded at $18.685 billion against the exports of $17.443 billion during July-March (2019-20), according to the latest PBS data.

The imports during the period under review also increased by 13.57 percent by growing from $34.791 billion last year to $39.512 billion during the first three quarters of current fiscal year.

Based on the figures, the country’s trade deficit increased by 20.05 percent during the first three quarters as compared to the corresponding period of last year.

The trade deficit during the period was recorded at $20.827 billion against the deficit of $17.348 billion last year.

Meanwhile, on year-on-year basis, the exports of the country increased by 30.44 percent during the month of March 2021 as compared to the exports of March 2020. The exports during March 2021 were recorded at $2.361 billion against the exports of $1.810 billion in March 2020, the data revealed.

The imports into the country increased from $3.308 billion in March 2020 to $5.632 billion in March 2021, showing growth of 70.25 percent.

On month-on-month basis, the exports from the country increased by 14.17 percent during March 2021 when compared to the exports of $2.068 billion in February 2021.

Likewise the imports into the country also increased by 21.83 percent in March 2021 when compared to the imports of $4.623 billion in February 2021, the data revealed.

Meanwhile, the country’s services exports during the first eight months of the current fiscal year decreased by 0.17 percent, from $3.815 billion last year to $3.809 billion.

Likewise, the services imports declined by 15.82 percent from $6.115 billion during first eight months of last fiscal year to $5.147 billion during the corresponding period of current fiscal year.

Based on the figures, the services trade deficit witnessed sharp decline of 41.80 percent by falling from $2.299 billion last year to $1.338 billion during the current year.