Exports increase by 14pc in 11MFY21

ISLAMABAD: The exports from the country witnessed an increase of 13.97 percent during the first eleven months of the current fiscal year (11MFY21) as compared to the exports of corresponding period of last year.

According to Pakistan Bureau of Statistics (PBS) data, exports during the (July-May) period were recorded at $22.560 billion against the exports of $19.795 billion during the same period of FY20.

The imports during the period under review also increased by 22.52 per cent by growing from $40.849 billion last year to $50.048 billion during the first eleven months of current fiscal year.

Based on the figures, the country’s trade deficit increased by 30.56 per cent during the first eleven months as compared to the corresponding period of last year.

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The trade deficit during the period was recorded at $27.488 billion against the deficit of $21.054 billion last year.

Meanwhile, on year-on-year basis, the exports of the country increased by 18.48 per cent during the month of May 2021 as compared to the exports of May 2020.

The exports during May 2021 were recorded at $1.654 billion against the exports of $1.396 billion in May 2020, the data revealed.

The imports into the country increased from $2.857 billion in May 2020 to $5.299 billion in May 2021, showing growth of 85.87 per cent.

On month-on-month (MoM) basis, the exports from the country; however, decreased by 25.46 per cent during May 2021 when compared to the exports of $2.219 billion in April 2021.

Likewise. the imports into the country increased dipped by 0.74 per cent in May 2021 when compared to the imports of $5.260 billion in April 2021, the data revealed.

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