Pakistan trade deficit doubles in 6 months. Pakistan’s trade deficit more than doubled to $25.5 billion during the first half of current fiscal year as imports could not be brought under control despite administrative steps amid an attempt by the commerce adviser to downplay it through dodgy figures.
The Pakistan Bureau of Statistics (PBS) released data which showed that the trade deficit widened to $25.5 billion in the first six months (July-December) of current fiscal year due to a significant surge in imports that outpaced the increase in exports.
The deficit was $13.2 billion (or 106%) higher than the comparative period of previous fiscal year, it added. The annual trade deficit target of $28.4 billion has become irrelevant due to higher imports.
Imports during the first half increased two-thirds to nearly $40.6 billion. In absolute terms, the imports grew $16.1 billion, according to the PBS. Resultantly, Pakistan trade deficit doubles in 6 months.
