Trade deficit reaches $13.885b

ISLAMABAD The countrys trade deficit remained $13.885 billion in the first eleven months (July-May) of the current fiscal year and registered a decline of 9.35 percent as compared to the same period of the last financial year, Federal Bureau of Statistics reported on Friday. According to the latest trade figures, Pakistans trade imbalance was registered at $13.885 billion in the July to May period of 2009-10, while it was $15.317 billion in the same period of 2008-09, thus registering a decline of 9.35 percent. The countrys exports have shown an increase of 8.88 per cent in the first eleven months of the ongoing fiscal year 2009-10 as compared to the same period of the last financial year. The exports managed to reach at $17.601 billion in July-May period of the current fiscal year as compared to the exports of $16.166 billion in the same period of the last fiscal year 2008-09, thus projecting an increase of over 8.88 percent. On the other hand, the countrys imports have shown a minor increase of 0.01 per cent and totalled at $31.486 billion in July-May period of the current fiscal year as against the imports of $31.483 billion during the same period of the last financial year. During May, the trade deficit widened by 46.51 per cent to $1.610 billion against $1.099 billion recorded during the same period of the last year. During the month under review, the country exported products worth $1.754 billion, showing a rise of 19.89 percent and imported products worth $3.363 billion, depicting a rise of 31.31 per cent, according to the data.

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