Exports surge by 25.5pc to $31.8bn in FY22

Trade deficit surges by 55.29pc to over $48bn 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.

 

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Ghulam Abbas
The writer is a member of the staff at the Islamabad Bureau. He can be reached at [email protected]

6 COMMENTS

  1. 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).

  2. It was the efforts of PTI GOVT LED BY IMRAN KHAN PRIME MINISTER OF PAKISTAN THAT FIRST TIME PAKISTAN EXPORTS CROSSED THE US $ 30 BULLIONS TARGETS
    &
    IMPORTS BILLS SURGED TO US$ 80 BILLIONS BECAUSE A LOT OF TEXTILE & LARGE SCALE MANUFACTURING INDUSTRIAL UNITS INCRASED AS DUE TO COVID EXPORTS ORDERS FROM THE WORLD OVER GIVEN TO PAKISTAN INSTEAD OF INDIA , BANGLADESH & CHINA DUE TO SMART LOCKED DOWN INTRODUCED BT PTI GOVERNMENT IMRAN KHAN WHICH ACKNOWLEDGED BY THE WHO & UNO.

    However, due to raise of Petroleum products by minimum RS. 100 PER LITER & RAISING ELECTRICITY/ GAS/LNG PRICES
    PAKISTANI EXPIRTERS CAN’T MEET THE PRODUCTIONS COST AND NEVER EVER SEEN SUCH LOAD SHEDDING BY THIS IMPORTED GOVERNMENT REGIMED CHANGED BT POWER CORRIDORS

  3. Hy. I’m from India and Indias textile industry risen we are export textile a huge number of 44 billion US$ in FY 2021

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