Pakistan Trade Deficit Pakistan's trade deficit hits all-time high in November
Islamabad/IBNS: Pakistan witnessed a massive rise of 162.4 percent in trade deficit during the November month of the current fiscal year.
The financial state is driven largely by more than triple increase in imports compared to exports from the country, reports said.
The reversing trend in trade deficit was witnessed for the fifth consecutive month as merchandise trade deficit reached $5.107 billion in November against $1.946 billion over the corresponding month last year, according to provisional data released on Wednesday.
This is the highest trade deficit recorded in a single month in terms of value, reports Dawn News.
The current year started with a rising import bill which poses a serious threat putting pressure on the external side.
The import bill in November reached an all-time high of $8.01 billion from $4.12 billion over the corresponding month last year, indicating an increase of 94.41 percent, the Pak newspaper reported.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
