Exports Rise Over 7 Percent in 3QFY21
The country’s exports climbed by 7.12 per cent over the first three quarters of the current fiscal year (FY21) as compared to the equivalent period of FY20.
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According to the Pakistan Bureau of Statistics (PBS), exports during the (July-March) period amounted at $18.685 billion against the exports of $17.443 billion in the same period of the last fiscal year.
Nonetheless, imports during the time under consideration also climbed by 13.6pc, growing from $34.791 billion last year to $39.512 billion during 3QFY21.
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Since exports expanded slower than the speed of expansion in imports due to increasing reliance on imported commodities to assure steady supplies, the country’s trade deficit climbed by 20pc over the first three quarters as compared to the equivalent period of last year.
It is crucial to state here that Pakistan’s trade deficit widened 98pc in March on a year-on-year (YoY) basis. The disparity between imports and exports climbed to $3 billion in March compared to a year ago, a spike of $1.5 billion in a single month.
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