Sept. 02, 2022 (MLN): Pakistan’s trade deficit for August 2022 was $3.53 billion, compared to a $2.73 billion deficit the previous month, expanded by 29% MoM, latest data shows of the Pakistan Bureau of Statistics. Today.
Compared to the same month last year, the trade deficit narrowed 18.48% from $4.33 billion, while imports fell 8.26% year-on-year to $6 billion.
In 2MFY23, the trade deficit was $6.26 billion, down 17.13% year-over-year compared to the deficit in the same period last year.
Meanwhile, exports are up 11% MoM to $2.5 billion compared to $2.25n in July 2022. Similarly, exports rose 11.44% year-over-year from $2.24 billion in August 2021.
In terms of rupees, exports from Pakistan amounted to Rs 553.63 billion in August 2022 compared to Rs 494.72 billion in July 2022 and Rs 368.81 billion in August 2021, an increase of 12% and 50.11% over the same period last year.
Similarly, imports rose 21% MoM in August 2022, clocking in at $6 billion compared to $4.9 billion in the previous month. Compared to the corresponding month last year, imports declined 8.26% from the $6.57 billion reported in August 2021.
In rupee terms, Pakistan’s imports amounted to Rs 1.3 trillion during the reporting month, up from Rs 1.1 trillion in July 2022 and Rs1 bir in August 2021, indicating a 21% MoM increase from last month, while year on year down 8.26% year on year.
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