Inside Financial Markets
March trade deficit widens by 118.36pc YoY: PBS - Inside Financial Markets

March trade deficit widens by 118.36pc YoY: PBS

– Business Recorder

Pakistan’s trade deficit widened by a massive 118.36 percent on year-on-year basis to $3.271 billion in March 2021 compared to $1.498 billion in March 2020, says the Pakistan Bureau of Statistics (PBS).

According to the PBS, trade figures showed that the country’s exports registered 30.44 percent increase in March 2021 and stood at $2.361 billion compared to $1.810 billion in March 2020.

The country’s imports remained $5.632 billion in March 2021 compared to $3.308 billion in March 2020 registering 70.25 percent growth.

The data further says that the country’s trade deficit widened by 20.05 percent to $20.827 billion in July-March 2020-21 compared to $17.348 billion in July-March 2019-20.

Trade figures shows that country’s imports remained $39.512 in July-March 2020-21 compared to $34.791 billion in July-March 2019-20 registering 13.57 percent growth.

The country’s exports witnessed 7.12 percent growth and remained $18.685 billion in July-March 2020-21 compared to $17.443 billion in July-March 2019-20.

Trade deficit widened by 28.02 percent to $3.271 billion in March 2021 compared to $2.555 billion in February 2021.

Pakistan’s exports increased by 14.17 percent and stood at $2.361 billion in March 2021 against $2.068 billion in February 2021.

The country’s imports remained $5.632 billion in March 2021 compared to $4.623 billion in February 2021 registering 21.83 percent growth.

Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood on April 1, 2021 took to Twitter and shared trade data according to which exports crossed $2 billion mark for the sixth consecutive month.

According to the advisor, the exports in March 2021 increased to $2.345 billion as compared to $2.068 billion in February 2021.

This shows an increase of 13.4 percent.

However, according to the PBS, the increase was 14.17 percent in exports during this period.

According to the advisor, for the period July-March 2020-21 exports increased by seven percent, to $18.669 billion as compared to $17.451 billion, during the same period last year.

However, according to the PBS the increase was 7.12 percent.

According to the advisor, imports have shown a growth of 12 percent and stood at $39.210 billion during first nine months of the current fiscal year as compared to $34.817 billion in the same period last fiscal year.

Trade deficit has increased by 18 percent to $20.541 billion during July-March 2020-21 as compared to $17.366 billion during the same period of 2019-20, however, according to the PBS, imports registered 13.57 percent growth, while trade deficit widened by 20.05 percent, during the first nine months of the current fiscal year.

Syed Zaki Hussain

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