Exports surge by 25.5pc to $31.8bn in FY22

ISLAMABAD: Exports from the country witnessed an increase of 25.51 percent during the fiscal year 2021-22 (FY22) as compared to FY21, totaling $31.076 billion, so far the highest figure in Pakistan's exports.

According to PBS data, the exports were recorded at $31.760 billion during July-June (2021-22) against the exports of $25.304 billion recorded during July-June (2020-21). PBS's monthly summary on foreign trade statistics for June 2022 shows that imports increased by 41.93 percent during the last fiscal and stood at $80.019 billion compared to $56.380 billion during the same period of the previous year (FY21).

However, the country’s trade deficit also widened by 55.29 percent during then last fiscal, reaching a whopping $48.259 billion. The country’s trade deficit widened by 33.41 percent on a year-on-year (YoY) basis, jumping from $3.624 billion in June 2021 to $4.835 billion in June 2022.

On the other hand, exports registered 5.83 percent growth on a YoY basis and increased from $2.758 billion in June 2021 to $2.887 billion in June 2022 while imports registered an increase of 21.57 percent on a YoY basis and jumped from $6.352 billion in June 2021 to $7.722 billion in June 2022.

According to the PBS data, the trade deficit widened by 16.48 percent on a month-on-month basis from $4.151 billion in May 2022 to $4.835 billion in June 2022.

Imports increased by 13.94 percent on a month-on-month basis and stood at $7.722 billion in June 2022 compared to $6.777 billion in May 2022. 

Exports increased by 9.94 percent on a month-on-month basis and stood at $2.887 billion in June 2022 compared to $2.626 billion in May 2022.