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Businessmen for taking measures to control trade deficit ... August 12, 2020 August 12, 2020 (MLN): Pakistan's fiscal deficit in FY20 stood at 8.1 percent of the GDP, compared to the deficit of 8.9 percent of GDP in FY19. Widening trade gap Pakistan's biggest economic concern ... Trade deficit decreased by 31% from $ 21 billion to $ 15 billion c) Fiscal deficit reduced from 5% to 3.8% of the GDP . . Review of balance of trade in Oct 2020 - Pakistan & Gulf ... International Journal of Economics and Financial Issues, 2020, 10(4), 215-219. International Journal of Economics and Financial Issues Vol 10 Issue 4 2020 215 Exchange Rate Volatility and Trade Deficit in Pakistan: A Time Series Analysis Mariam Abbas Soharwardi1*, Mumtaz Ahmad1, Muhammad Nouman Shafique2 Pakistan's current account deficit plummets 65% PDF Economic Brief 2020 If PMLN had won in 2018 they would have had the same economic . Imports were recorded at $3.299 billion in March 2020, which was around $4.116 billion in the same month of the previous year. PDF Exchange Rate Volatility and Trade Deficit in Pakistan: A ... The country's exports grew 16.52% in October 2021 to $ 2.448 billion from $ 2.101 billion in October 2020, according to trade data released by PBS on […] The U.S. Census Bureau says the international trade deficit was $97.8 billion in November, up $14.6 billion from $83.2 billion in October.. Exports of goods for the month were $154.7 billion, $3.3 billion less than October exports. During the last fiscal (2020-21) trade deficit stood at $31.1 billion, 34.3 percent more than $23.159 billion recorded in FY2019-20. Pakistan's current account deficit ... - Pkrevenue.com The . Dagha said that the ongoing trend is not sustainable. 2019. Pakistan's trade deficit went up by 2.02% to $5.8 billion as compared to $5.69 billion in the first quarter of the current fiscal year of 2020/21 (July-September) as both exports and imports showed. Pakistan's trade deficit rose 117 percent to $ 3.886 billion in October 2021, up from $ 1.789 billion in October 2020, according to the Pakistani Bureau of Statistics. July-Dec trade deficit widens 100pc to $24.78bln The government is currently focused on long-term sustainability and expansion of the export industry to reduce the trade deficit. PDF FEDERAL BUDGET - Government of Pakistan e) Foreign exchange reserves with the State Bank of Pakistan had declined Islamabad, December 02, 2022: Imports during Dec 2021 decreased to USD 6.9 billion as compared to USD 7.9 billion in Nov 2021. It puts the end-June trade deficit at around $11.8 billion. I start my submissions with the name of Allah Almighty, the most gracious, the most merciful. Pakistan Bureau of Statistics has issued the monthly trade figures where trade deficit increased by massive 111.74 percent to $ 20.590 billion in the first five months of the current fiscal year 2021-2022 (July-November), up from $ 9.724 billion in the same period last year. Read more: Pakistan trade deficit widened to a record $3.058 billion in July. The U.S. goods trade deficit with Pakistan was $1.3 billion in 2019, a 48.6% increase ($417 million) over 2018. November imports of goods were $252.4 billion, $11.3 billion more than October. However, Pakistan can also reduce its overall trade deficit by diverting its exports from traditional destinations to China, which is. Below are exports from Pakistan that result in negative net exports or product trade balance deficits. The country's current account deficit has already turned red, as the trade deficit is continuously ballooning for the last few months. The current account deficit narrowed from 1.7 percent of GDP in FY20 to 0.6 percent in FY21 as robust remittance inflows offset a wider trade deficit. Pakistan Bureau of Statistics Statistics House, 21-Mauve Area, G-9/1, Islamabad, Pakistan E-mail: pbs@pbs.gov.pkpbs@pbs.gov.pk The Pakistan Bureau of Statistics says imports in July-Nov 2021 surged 69 per cent year-on-year to $32.934 billion. Exports rise 18.3pc to $2.35bn, whereas imports surge 25.2pc to $5.03bn in December 2020. latest available trade, tariff, trade barriers and other trade related data Click Here . Imports of goods for October were $240.3 . For at a glance i.e. Overall Pakistan incurred a -$23.5 billion trade deficit during 2020, down by -10.6% from -$26.3 billion in red ink one year earlier. The import projection for Dec 2021 was USD 6.2 billion. Pakistan's current account(The current account is a country's trade balance plus net income and direct payments) records a deficit for the consecutive second month, with a deficit of $229 million in January. The trade deficit, according to the Pakistan Bureau of Statistics (PBS . TOTAL 2020, 315.0, 347.8, -32.8. The trade deficit was the highest in the fiscal year 2017-18 which had reached $37.7 billion. By News Desk. July 21, 2020. Pakistan trade balance for 2017 was $-28.44B, a 45.5% increase from 2016. Pakistan's trade deficit has swollen 34 per cent during the fiscal year 2020/21, despite record exports, according to the data released by the Pakistan Bureau of Statistics (PBS) on Saturday. The trade deficit is also known as a negative balance of trade. b) Current account deficit had increased to a historic high of $20 billion c) Trade deficit had reached at $ 32 billion, with no growth in exports in last five years. September 13, 2021. Pakistan Trade Balance - -3.554 USD Billion in 2021. India trade balance for 2018 was $-100.38B, a 19.84% increase from 2017. The widening of the trade gap is mainly attributed to exponential growth in imports and comparatively slow growth in exports. Pakistan trade balance for 2020 was $-18.60B, a 34.45% decline from 2019. But export earnings totalled $12.344bn, despite about 27pc yearly growth. The Government of Pakistan is still trying to improve the trade deficit condition in the country. Budget Speech 2020-21 Part-I Bismillah Ur Rehman ur Raheem Mr. Speaker, 1. A positive trade balance signifies a trade surplus,. In Pakistan, the export surged up to $2.14bn from $1.88bn since last year, exhibiting an appreciation of 13.82pc. ISLAMABAD: Pakistan's trade deficit widened by 6.44 per cent in the first half (July-December) of the current fiscal year (2020-21) owing to an uptick in imports during the last two months. Meanwhile, Pakistan's international trade deficit in services reduced by around half during the financial year 2020-21 over the financial year 2019-20, however it is still revealing that Pakistani . This is a decrease of USD 1 billion. The overall trade deficit in trade of services fallen to $ 1,362.53 million during 3 quarters of FY 2020-21 that was recorded $ 2,860.59 in corresponding period of FY . Pakistan's current account deficit contracted to USD3.3 bn in 10m20, as . Investment. The effect is bound to be higher if the country happens to be a net importer of food items. For comparison, the world average in 2020 based on 139 countries is -5.58 percent. The significant trade deficit is attributed to rampant imports being […] However, the deficit was higher in December 2020, of value $652 million. The International Monetary Fund (IMF) has projected Pakistan trade deficit to reduce to USD 24.3 billion by end of FY 2020. Trade deficit for the country rose, as the imports grew twice as fast as the growth in exports. Pakistan's trade deficit widened 100% during the first half (July-December) of the current fiscal year 2021-22 and reached $25.5 billion from $12.34 billion in the same period of 2020-21, data from. Pakistan trade balance for 2018 was $-34.92B, a 22.76% increase from 2017. In FY20, the country's trade deficit had narrowed to $23.099bn from $31.820bn in the previous year. trade with Pakistan seems to have fallen off the policy charts. The latest value from 2020 is -7.05 percent. Unfortunately, Pakistan witnessed a huge food trade deficit of $3.954 billion in 2020-21 (between July 2020 and June 2021) up from just $817 million in 2019-20 and $1.061bn in 2018-19, a closer look at trade figures of Pakistan Bureau of Statistics (PBS . Pakistan's trade deficit rose sharply to US dollars 5.11 billion in November 2021 against US dollars 1.94 billion in the same month of the last year 2020, witnessing a surge of 163 per cent . Islamabad [Pakistan], December 30 (ANI): Increase in palm oil import prices has added to Pakistan's trade deficit woes as it tries to cope with an increase in inflation and its dependence on external loans is increasing. To calculate the trade deficit, one needs to subtract the value of a country's exports from the total value of imports. From July 2019 to March 2020, Pakistan's current account deficit decreased by 73 percent to USD $2.8 billion, however this was mainly due to the massive depreciation of the rupee which led to a fall in import demand and a meager increase in exports—reducing the trade deficit by 31 percent. Trade Deficit Decreased by USD 824 Million To USD 4.1 Billion For December 2021: MOC. KARACHI: Pakistan's trade deficit widens 100 percent to stand at $24.78 billion during July-December of fiscal year 2021-22, as compared to $12.36 billion in the corresponding half of the last . The average value for Pakistan during that period was -5.96 percent with a minimum of -12.04 percent in 1985 and a maximum of 0.94 percent in 2004. USD 3.5 billion. The month of Jan 2020, Trade Deficit was recorded at USD 1.87 billion which is half of the level recorded in July 2018 i.e. The Federation of Pakistan Chambers of Commerce Industry's Businessmen Panel has warned the government of incessant surge in trade deficit, widened by 106.4% during the first half of the current fiscal year 2021-22, keeping the local currency under pressure, which is back to its depreciating trend against the US dollar, after remaining stable for a couple of days. Pakistan's trade deficit up 100% YoY to stand at $24.78 billion in first half of fiscal year 2021-22. KARACHI: Pakistan's trade deficit widens 100 percent to stand at $24.78 billion during July-December of fiscal year 2021-22, as compared to $12.36 billion in the corresponding half of the last . Working of Fiscal Deficit & Financing Budget 2020-21. Government Budget in Pakistan increased to -8.10 percent of GDP in 2020 from -9.10 percent of GDP in 2019. Country / Region. In August 2018, a new era started Pakistan quarterly trade data. . UPDATE (July 15, 2021): Pakistan's goods exports achieved a historic high of $25.3 billion in the fiscal year 2020-21, according to Adviser Abdul Razzak Dawood. The trade gap has been widening since December 2020, mainly led by exponential growth in imports and comparatively slow growth in exports. This page provides - Pakistan Government Budget - actual values, historical data, forecast, chart . U.S. foreign direct investment (FDI) in Pakistan (stock) was $256 million in 2019, a 73.0% increase from 2018. Pakistan's trade deficit up 100% YoY to stand at $24.78 billion in first half of fiscal year 2021-22. Indian Exports India's exports up 37% to record USD 37.29 bn in Dec; trade deficit widens to USD 22 bn . Pakistan Bureau of Statics (PBS) has released the import data for the first five months of fiscal year 2022. Amid the country's widening trade deficit, it is expected that some difficult policy decisions will be made in the coming weeks….reports Asian Lite News. According to the PBS, the country's trade deficit widened by 85.38 percent on year-on-year basis jumping from $2.620 billion in December 2020 to $4.857 billion in December 2021. The international trade deficit was $82.9 billion last month, down $14.1 billion from the $97 billion reported in September, according to the U.S. Census Bureau. We expect Pakistan's current account deficit to come in at 2.2% of GDP in FY2021/22 (July 2021-June 2022), up from 0.6% in FY20/21, as the trade deficit widens. The trade deficit in December 2021 alone was up 57% to $4.1 billion from $2.6 billion in the. During the period 10m20, remittances grew by 5.5% to USD19 bn compared to USD18 bn in 10m19. August 1, 2020 6:45:58 am. The statistic shows Pakistan's trade balance from 2010 to 2020. According to data released by the Pakistan Bureau of Statistics (PBS) on Thursday, the country's trade deficit was recorded at $12.42 billion during July-December FY21 as compared to the deficit of . The incumbent government of Pakistan under Prime Minister Imran Khan has presented its third budget for the Fiscal Year 2021-22. Foreign direct investment decreased, while portfolio inflows increased with the issuance of US$2.5 billion Eurobonds. Imports in December too rose by 38 per cent to USD 59.27 billion on account of an increase in oil imports, which soared 65.17 per cent to USD 15.9 billion, government data showed on Monday. KARACHI: Pakistan's Current Account Deficit (CAD) has reduced by 78 percent owing to lower imports and better inflows. Advance Releases on External Trade Statistics for November, 2021. Pakistan's trade deficit widened to record levels over the last two months, and exports continued to slide, local media said on Sunday. Pakistan's merchandise trade deficit for the month of September 2021 clocked in at $4.1billion compared to a deficit of $2.4bn in the corresponding month last year, depicting a growth of 70% Year-on-Year (YoY). Trade Balance. Government Budget in Pakistan averaged 0.52 percent of GDP from 1990 until 2020, reaching an all time high of 8.80 percent of GDP in 1990 and a record low of -9.10 percent of GDP in 2019. In May 2020, Moody's has placed Pakistan's issuer B3 rating under review The import bill of the country fell by 19 percent to $44.57 . India trade balance for 2020 was $-8.31B, a 88.55% decline from 2019. The State Bank of Pakistan, in its latest projections, has revised downwards the export projections for FY-2010. In absolute terms, there was an increase of $115 million or over 2% in the trade deficit in the current fiscal year. July 19, 2021 (MLN): Pakistan's trade deficit in services stood at $1.88 billion during the fiscal year 2020-21, signifying a decline of 43.5% as compared to a deficit of $3.32bn recorded in the same period last fiscal year. ISLAMABAD: Pakistan's trade deficit widened by 111.74 percent to $20.590 billion during the first five months (July-November) of current fiscal year 2021-22 as compared to $9.724 billion during the. The services trade deficit during July-March (2020-21) was recorded at $1362.53 million against the deficit of $2860.59 million in July-March (2019-20), according to the […] The deficit for the month of August reached to an all time high of $4.05 billion, increasing 133.1 per cent year-on-year and 24.4 per cent month-on-month. In FY2021, imports clocked in at $56.405 billion and exports $25.30 billion. During the four months i.e., from July 2021 to October 2021, the trade deficit touched the figure of $15.525 billion which was $7.617 during these four months in 2020. d) Pak Rupee was artificially over-valued which decreased our exports and increased the imports. This. ISLAMABAD: Pakistan's trade deficit widened by 6.44 per cent in the first half (July-December) of the current fiscal year (2020-21) owing to an uptick in imports during the last two months. There is no information on the distribution of U.S. FDI in Pakistan. The trade deficit stood at $31.05 billion during the fiscal year 2020/21, compared with the deficit of $23.16 billion in the preceding fiscal year. In terms of Rupees, the country's total budget deficit in FY20 clocked in at Rs 3.376 trillion, whereas, in FY19 it stood at Rs 3.444 trillion. ISLAMABAD (APP): The country's services trade deficit contracted by 52.37 percent during the first three quarters of the current financial year (2020-21) as compared to the corresponding period of last year. Trade Commodities. Exports of goods for October were $157.4 billion, $15.3 billion more than September exports. 2021, the UK had a trade in goods deficit of £835 million with Pakistan, compared to a trade in goods deficit of £591 million in the four quarters to the end of Q2 2020. Pakistan's trade deficit widened by 111.74% to $20.590 billion during the first five months (July-November) of current fiscal year 2021-22 as compared to $9.724 billion during the same period of 2020-21. In the first half (July-December), the trade deficit rose sharply and doubled by touching $25.478 billion against $12.344 billion in the same period of the last fiscal year 2020-21, witnessing a surge of 106 percent. Pakistan's trade deficit contracts 27% to $15.7b Decline comes due to suppression of imports amid rekindled hopes for revival of exports Our Correspondent March 03, 2020 It projects imports at . The reduction in imports and exports has resulted in reduction in trade deficit by 30.35 percent during the month of March this year. Focus of Government of Pakistan First 9 Months of FY 2019-20 . Jul-Dec 2021: Trade. Data are in current U.S. dollars. It is a matter of great honour and pleasure for me to present the second Annual Budget of the Pakistan Tehreek e Insaaf's Government. Take-profit.org provides actual statistics, charts, historical data by presidents about trade surplus and deficit in Pakistan. Download Historical Data. Analysis of Pakistan Bureau of Statistics (PBS) identified that based on the provisional statistics of imports and exports the balance of trade during October, 2020 was recorded (-)293,497 million in terms of Rupees and (-) 1,803 million in US . This means compared to December 2020, in January 2021, the deficit decreased by 65.4%. Although remittances to the country helped balance the external payments, the widening trade deficit is a sign of a negative trend for the country's foreign trade. Mouza Census 2020; Disability Statistics; Pakistan Bureau of Statistics Statistics House, 21-Mauve Area, G-9/1, Islamabad, Pakistan E-mail: pbs@pbs.gov.pk . . This budget has a value of Rs8.49 trillion . Working of Fiscal Deficit & Financing Budget 2020-21. Please check the Data Availability for coverage. Trade deficit decreased by 31% from $ 21 billion to $ 15 billion c) Fiscal deficit reduced from 5% to 3.8% of the GDP . The CAD fell to $2.966 billion during fiscal year 2019/2020 as against the deficit of $13.434 billion in the preceding fiscal year. 2019: U.S. trade in goods with Pakistan. Please note the exports, imports and tariff data are based on reported data and not gap filled. The annual import bill went up by 25.8 per cent, or USD 11.517 billion, to USD 56.091 billion in FY21 from USD 44.574 billion over the corresponding months of last year. Pakistans Trade Deficit: 1960-2020. Pakistan. Pakistan recorded a trade deficit of 862093 PKR Million in November of 2021. source: Pakistan Bureau of Statistics 1Y 5Y 10Y 25Y MAX Chart Compare Export API Embed Pakistan Balance of Trade Pakistan has been running consistent trade deficit since 2003 mainly due to high imports of energy. India trade balance for 2019 was $-72.57B, a 27.71% decline from 2018. Similarly, the exports have increased to $2.9 billion, approximately 33.7% higher than the value reported in November 2020. If your country does not sell anything to other countries then the ability to buy anything (especially foreign products like cars, mobiles, etc) becomes almost impossible. Trade gap has been widening since December 2020, mainly led by exponential growth in imports and. Budget. Pakistan's lacklustre ability to attract foreign direct investment inflows, alongside a slowdown in remittance flows, is unable to offset the country's widening trade deficit. The February 2019 Pulwama terrorist attack has further limited the already low level of trade between . Meanwhile, in the four quarters to the end of Q2 2021 the UK reported a trade in services surplus of £8 million with Pakistan, compared to a trade in services surplus of £ . On the import side, the country witnessed a contraction of 10.3pc, as imports fell from $4,074 million in October 2019 to $3,653 million in October 2020. Deficit in trade of services in the first 9 months of fiscal year 2020-21 witnessed a significant decline owing to more than 20 percent decrease in import of services from abroad. According to data released by the Pakistan Bureau of Statistics (PBS) on Thursday, the country's trade deficit . It mentioned in its 'Annual Analytical Report on External Trade Statistics of Pakistan Fiscal Year 2020-21' that the country's trade deficits began in the fiscal year 1955 and continue to date. Pakistan trade balance for 2019 was $-28.38B, a 18.72% decline from 2018. Pakistans trade deficit was pretty much in freefall between 2015 and 2018. The trade deficit in December 2021 alone was up 57% to $4.1 billion from $2.6 billion in the same month last year. The trade imbalance has recorded at $31.057 billion in year 2020-21 as compared to $23.159 billion in the preceding year 2019-20 showing an increase of 34.1 per cent, according to the latest data of Pakistan Bureau of Statistics (PBS). Pakistan's trade deficit was recorded at $1.49 billion in the month of March 2019 . India trade balance for 2017 was $-83.76B, a 106.68% increase from 2016. against trade deficit. Edible oil is an essential food item in Pakistan and 80-90 per cent of its . The trade deficit, which stood at $5.7 billion in the comparative period of last fiscal year, widened to $5.8 billion in the July-September period of 2020-21, according to the national data collecting agency. So far, the bilateral trade balance remains in favour of China. State Bank of Pakistan has also introduced a number of initiatives for . It shows that Pakistan imported palm oil worth $1.52 billion, and gold worth $8.8m. The Federation of Pakistan Chambers of Commerce Industry's Businessmen Panel has warned the government of incessant surge in trade deficit, widened by 106.4% during the first half of the current fiscal year 2021-22, keeping the local currency under pressure, which is back to its depreciating trend against the US dollar, after remaining stable for a couple of days. The trade deficit has swelled due to the massive increase in imports as against the exports. Advertisement. Pakistan: Trade balance as percent of GDP: For that indicator, we provide data for Pakistan from 1960 to 2020. Imports increased 37.9% YoY to stand at $6.901 billion, up from $5.005 billion in December 2020. Year. Trade balance is the value of exported goods minus the value of imported goods. Based on the import-export data, Pakistan's trade deficit shrank 22.6pc ($1,587 million) in October 2020, showing an improvement of $463 million over the same month of last year. State Bank of Pakistan has also introduced a number of initiatives for . Focus of Government of Pakistan First 9 Months of FY 2019-20 . July 21, 2020. Pakistan's trade deficit widens 133pc in August. , remittances grew by 5.5 % to USD19 bn compared to December 2020, mainly led by exponential in... Most trade deficit of pakistan 2020, the deficit was higher in December 2020 the country rose, as imports. Trade related data Click Here that Pakistan imported palm oil worth $ 1.52 billion, $ billion. 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