Country’s exports increase 10.58% in July

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ISLAMABAD, Aug 19 (APP):The country’s exports witnessed 10.58
percent increase during the first month of the ongoing fiscal year
(2017-18),compared to the corresponding month of last year.
Pakistan exported goods worth $1.631 billion in July 2017
compared to the exports of $1.475 billion in July 2016, showing
upward growth of 10.58 percent, an official in ministry of commerce
told APP on Saturday.
The merchandise imports during the month under review also
increased by 36.74 percent compared to July 2016.
The imports into the country during July 2017 were recorded at
$4.835 billion compared to the imports of $3.536 billion, the data
revealed.
He said the trade deficit during July 2017 was
recorded at $3.204 billion, which showed growth of 55.46 percent when
compared to the deficit of $2.061 billion during July 2016.
Meanwhile, on month-on-month basis, the exports from the
country witnessed negative growth of 14.70 percent in July 2017 when
compared to the exports of $1.912 billion in June 2017.
The imports into the country increased by 6.64 percent in July
2017 when compared to the imports of $4.534 billion recorded during
June 2017, according to the data.
Replying to question, the official said the ministry was
contributing to the national economy through trade facilitation and
liberalization, improve export competitiveness and reduce the cost
of doing business.
The government is committed in providing direction and
diversification to internal trade for enhancing supply chains to
enhance the country’s exports.
“We are working to explore new trade avenues and markets in
different regions to get access to these markets for promotion of
country’s trade,” he said.
He said that new tarde policy mainly targeted the
international and internal trade for improving supply chain,
enhancing use of technology and providing competitiveness.