World Economy

Pakistan Trade Deficit Widens

Pakistan Trade Deficit WidensPakistan Trade Deficit Widens

Pakistan’s trade deficit widened to $23.96 billion in the last fiscal year of 2015/16 with exports falling more sharply than imports, the official data showed, AAP reported. The Pakistan Bureau of Statistics data showed that this deficit was 8.14% up as compared to $22.15 billion in the fiscal 2014/15. Exports decreased 12.11% to $20.80 billion in 2015/16, while imports inched down 2.32% to $44.76 billion. The government further recorded a significant 29% increase in the trade deficit to $2.81 billion in June over May. The gap between exports and imports widened 10% in the last month of the previous fiscal over the same month a year ago.