The Pakistan Bureau of Statistics (PBS) reported on Friday that the country’s exports went up by 3.75 percent in the first two months of the current fiscal year (2022-23) compared to the same time last year.
According to data from PBS, the country’s exports were worth $4.759 billion in July and August of 2022–23, up from $4.587 billion in July and August of 2021–22. This is an increase of 3.75 percent.
Related: In the first half of the fiscal year 2022, manufacturing, exports showed an upward trend, the State Bank
On the other hand, imports into the country fell by 9.25 percent from $12.152 billion in July-August of last year to $11.028 billion in July-August of this year (2022-23).
According to the data, the trade deficit for the period under review was $6.269 billion. This is 17.13 percent less than the trade deficit for the same period last year, which was $7.565 billion.
During the same month last year, the country’s exports were up 11.44 percent.
In the month under review, exports were worth $2.504 billion, compared to $2.247 billion in the same month of the previous year.
Imports, on the other hand, went down from $6.577 billion in August 2021 to $6.034 billion in August 2022, which is 8.26 percent of negative growth.
The country’s exports went up by 11.07 percent from July to August 2022. In July, the country sent out $2.254 billion worth of goods, but in August, that number rose to $2.312 billion.
On the other hand, imports into the country increased by 20.84 percent in July 2022 compared to July 2022, when they were $4.993 billion. This is according to data from PBS.
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Also, the country’s exports of services grew by 7.96% in July, the first month of the current fiscal year, to $530.07 million, compared to $490.99 million in July of last year.
PBS data shows that the value of services imported went up from $778.05 million in July 2021 to $789.93 million in July 2022, a growth of 1.53 percent.
