ISLAMABAD - The country’s trade imbalance has swelled by over 45 percent during the first ten months (July-April) of the outgoing financial year 2011-12 chiefly due to higher import bill in the period under review.
The PBS figures showed that country’s exports had recorded negative growth of over three per cent during the first ten months of the outgoing financial year, as it had recorded at $19.393 billion in the period under review against the $20.092 billion of same period last year. On the other hand, country’s imports had increased by 14.81 per cent in one year, as it has recorded at $37.042 billion in July-April 2011-12 against $32.263 billion of July-April 2010-11. Therefore, the trade deficit remained at higher side of $17.649 billion in July-April period of 2011-12 against $12.171 billion of same period last year.
The Commerce Ministry officials held international economic situation responsible for the widening trade deficit of the country, as according to them prices of importable commodities like oil is on the increasing trend in international market contrary to the declining prices of our exportable goods. The prices of textile made commodities had decreased in international market that made impossible for Pakistan to achieve last year exports level of $25 billion during the outgoing financial year.
Meanwhile, according to the PBS figures, the overall exports showed a growth of 11.94 per cent in April 2012 if compare with the exports of March 2012. The country exported good worth of $2.240 billion in April 2012 against the $2.001 billion of March 2012. However, the imports have went up by 7.43 per cent in April 2012 against the March 2012, as the country imported good worth of $3.757 billion during the last month as compare to $3.467 billion of March 2012. Therefore, the country’s trade imbalance increased by 1.40 per cent in April 2012 against the March 2012. The country’s trade deficit has recoded at $1.517 billion in April 2012 against the $1.496 billion of the March 2012.
According to the PBS figures, exports stood at $2.240 billion in April 2012, which were $2.365 billion in April 2011 and this showed 5.29 per cent decline in exports in one year. Imports had increased by 15.71 per cent and totalled to $3.757 billion in April 2012 against $3.247 billion of April 2011. The trade deficit for April 2012 against April 2011 increased by 72 per cent and recorded at$ 1.517 billion.