Exports surge by 25.51% to $31.760 billion in FY2022

Exports surge by 25.51% to $31.760 billion in FY2022

ISLAMABAD, Jul 4 (APP):The exports from the country witnessed an increase of 25.51 percent during the fiscal year 2021-22 as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

According to PBS data, the exports from the country were recorded at $31.760 billion during July-June (2021-22) against the exports of $25.304 billion recorded during July-June (2020-21), showing growth of 25.51 percent.

The imports during the year under review also went up by 41.93 percent by growing from $56.380 billion last year to $80.019 billion in July-June (2021-22).

Based on the data, the trade deficit during the period under review was recorded at $48.259 billion, showing an increase of 55.29 percent over the deficit of $31.076 billion recorded during last year, the PBS data revealed.

Meanwhile, on year-on-year basis, the exports of the country increased by 5.83 percent during June 2022 as compared to the exports of same month of last year. The exports during the month under review were recorded at $2.887 billion against the exports of $2.728 billion during the same month of last year.

The imports into the country increased from $21.57 billion in June 2021 to $7.722 billion in June 2022, showing growth of 21.57 percent.

On month-on-month basis, the exports from the country increased by 5.83 percent during June 2022 as compared to the exports of $2.728 billion recorded during May 2022.

On the other hand, the imports into the country during June 2022 witnessed increase of 21.57 percent as compared to the imports of $6.352 billion in May 2022, according to the PBS data.