Exports increased by 27.59% in two months of FY 2021-22

Exports increased by 27.59% in two months of FY 2021-22

ISLAMABAD, Sep 4 (APP): The exports from the country witnessed an increase of 27.59 percent during the first two months of the current fiscal year (2021-22) as compared to the corresponding months of last year, Pakistan Bureau of Statistics (PBS) reported.

According to PBS data, the exports from the country stood at $4.573 billion during July-August (2021-22), as against the exports of $3.584 billion recorded during July-August (2020-21), showing growth of 27.59 percent.

The imports during the months under review also went up by 72.59 percent by growing from $6.990 billion last year to $12.064 billion in July-August (2021-22).

Based on the data, the trade deficit during the period under review was recorded at $7.491 billion, showing an increase of 119.94 percent over the deficit of $3.406 billion recorded during July-August (2020-21), the PBS data revealed.

Meanwhile, on year-on-year basis, the exports of the country increased by 41.04 percent during the first two months as compared to the exports of July-August (2020-21).

The exports during July-August (2021-22) were recorded at $2.234 billion against the exports of $1.584 billion in July-August (2020-21), the data revealed.

The imports into the country increased from $3.316 billion July-August (2020-21) to $6.463 billion in July-August (2021-22), showing growth of 94.90 percent.

On month-on-month basis, the exports from the country however witnessed a decline of 4.53 percent during July-August (2021-22) as compared to the exports of $2.340 billion recorded during July (2021-22).

Likewise, the imports into the country during July (2021-22) witnessed 15.39 percent growth as compared to the imports of $5.601 billion in July (2021-22), according to the PBS data.