Global economy projected to show fastest growth in 50 years: UNCTAD

Exports increase by 13.97% in 11 months

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Islamabad: According to the Pakistan Statistics Bureau (PBS), compared with the same period last year, the country’s exports have increased by 13.97% in the first 11 months of the current fiscal year (2020-21).

According to the latest data from PBS, exports from July to May (2020-21) were USD 22.560 billion, while exports from July to May (2019-20) were USD 19.795 billion.

Imports during the reporting period also increased by 22.52%, from 40.849 billion U.S. dollars last year to 50.048 billion U.S. dollars in the first 11 months of this fiscal year.

Data show that from January to November, the country’s trade deficit increased by 30.56% year-on-year.

The trade deficit during the period was USD 27.488 billion, compared with USD 21.054 billion last year.

At the same time, compared with May 2020, exports in May 2021 increased by 18.48% year-on-year.

The data shows that the export value in May 2021 was 1.654 billion U.S. dollars, while the export value in May 2020 was 1.396 billion U.S. dollars.

Imports increased from USD 2.857 billion in May 2020 to USD 5.299 billion in May 2021, an increase of 85.87%.

However, compared with the export value of US$2.219 billion in April 2021, the country’s exports in May 2021 fell by 25.46% month-on-month.

The data shows that similarly, compared with the import value of 5.260 billion U.S. dollars in April 2021, the country’s import value in May 2021 has dropped by 0.74%.

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