68230
Pak Trade Deficit Rises to $32b
Pak Trade Deficit Rises to $32b

Pak Trade Deficit Rises to $32b

Pak Trade Deficit Rises to $32b

Pakistan booked a record trade deficit of $32.6 billion in the last fiscal year after exports nosedived to a six-year low while imports surged to a historical level of $53 billion, the Pakistan Bureau of Statistics reported on Tuesday, APP reported. The government missed all of its trade sector targets for fiscal year 2016-17 that ended on June 30, which adversely affected its current account deficit projection and official foreign currency reserves. This also puts a question mark over the projections made at the time of budget making every year. The gap between imports and exports widened to $32.3 billion during July-June period of the previous fiscal year, according to PBS. It was 36.3% or $8.7 billion more than the preceding fiscal year. The trade deficit was also $12 billion higher than the government’s own target for fiscal year 2016-17, which can have adverse consequences for foreign currency reserves.

 

Short URL : https://goo.gl/mtNJks
  1. https://goo.gl/uQLWpj
  • https://goo.gl/1mEuvp
  • https://goo.gl/wZDpCP
  • https://goo.gl/hGNmRn
  • https://goo.gl/sZDwun

You can also read ...

EU heavyweights France, Germany and Italy argue that there is growing evidence of discrimination, especially by state owned companies and a determined Chinese strategy to secure the most modern European technologies in key industrial sectors.
Both Brussels and Washington are taking steps to force China...
The high resolution MRI, CT, and sonogram images underpin advances in medical diagnosis.
The growth in labor productivity – real output per hour worked...
Growth is forecast at 2.2% in 2017, down from  a previous projection of 2.8%.
UAE’s real GDP growth will slow in 2017, owing to oil...
Malaysia Economy Set to Grow
Malaysia’s economy is set to grow this year with gross...
Based on the index  gas, fuels, water and housing, especially  sub-indexes, declined by 2.4% year on year in July.
Subdued demand due to cash shortages in Zimbabwe has resulted...
The surge in European stocks pushed up the MSCI world equity index.
European stocks broke a three-day losing streak on Tuesday,...
Scottish Business Rates Under Fire
Scotland’s business rates system, which charges non-domestic...
German Investor Morale Slumps
German investor confidence fell sharply in August, amid...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus