Economic outlook report shows 21.6% drop in remittances

Exports increase by 3.75 percent in 2 months


ISLAMABAD: The exports from the country witnessed an increase of 3.75 percent during the first two months of the current fiscal year (2022-23) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported Friday.

According to PBS, the country exported $4.759 billion in July-August (2022-23) and $4.587 billion in July-August (2021-22), an increase of 3.75% .

On the other hand, the country’s imports in July-August (2022-23) fell by 9.25% to $11.028 billion from $12.152 billion last year.

According to PBS data, according to the data, the trade deficit during the reporting period was US$6.269 billion, a decrease of 17.13% from the deficit of US$7.565 billion in the same period last year.

At the same time, compared with the same period last year, the country’s exports in August 2022 increased by 11.44% year-on-year.

Exports for the month were $2.504 billion, compared with $2.247 billion a year earlier.

However, the country’s imports fell from $6.577 billion in August 2021 to $6.034 billion in August 2022, a negative growth of 8.26%.

The country’s exports in August 2022 increased by 11.07% month-on-month compared to July 2022’s $2.254 billion.

On the other hand, the country’s imports in July 2022 increased by 20.84% ​​compared to July 2022’s imports of $4.993 billion, according to PBS.

Meanwhile, the country’s exports of services also rose by 7.96 percent in the first month of the current fiscal year (July) to $530.07 million, compared to last year’s exports of $490.99 million.

Imports of services also increased from $778.05 million in July last year to $789.93 million in July 2022, an increase of 1.53 percent, according to PBS.

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