KARACHI - The trade deficit ballooned to $19.4 billion in July-May period.
Export declined 3.8 percent to $21.53 billion while import rose 12 percent to $40.93 billion, said analyst Khurram Shehzad on Friday.
While TDAP press release claimed that Pakistan’s balance of trade has improved by 13 percent in May 2012 over the same month last fiscal year. During May 2012 trade deficit was $1.7 billion while it was $1.99 billion in May 2011.
As per released data, Pakistan exports during eleven months of the fiscal year 2011-12, decreased by 3.8 percent. The cumulative trade figure shows that Pakistan’s exports during July-May were $21.53 billion, while in the corresponding period of the last fiscal year, exports were $22.39 billion. Imports during July-May 2011-12 were $40.93 billion as compared to $36.55 billion during the same period of the year 2010-11, registering a 12 percent growth.
On the other hand Pakistan’s exports during May 2012 were valued at $2.16 billion which was 5.96 percent lower than the level of $2.3 billion during May 2011. Imports during May 2012 were valued at $3.89 billion registering a decline of 9.3 per cent over the imports of $4.29 billion in May 2011.