ISLAMABAD, Nov 15: Pakistan’s trade deficit rose by 162.57 per cent to $3.372 billion during the first four months (July-Oct) of the fiscal year 2005-60, as against $1.284 billion over the same period last year. Official figures released on Tuesday by the Federal Bureau of Statistics indicated that in October 2005, the trade deficit was recorded at 117.65 per cent to $998.212 million, as against $458.638 million in the same month last year.
The commerce ministry had projected a trade deficit of $4.79 billion in the trade policy for the whole fiscal year 2005-06. This shows that the projected target would be surpassed next month.
Analysts say trade deficit would widen further as the demand for imports of tents, blankets, tarpaulin, food items — wheat, sugar and livestock — would increase during the months ahead.
The statistics showed that trade deficit increased by 21.28 per cent in October 2005 when compared with September 2005. The gap may further widen as the government and the private sector would also start importing materials for construction in the quake-devastated areas.
The analysis of trade figures showed that Pakistan exports increased by 22.89 per cent during the July-Oct period this year to $5.508 billion, as against $4.482 billion during the same period last year.
On monthly basis, the exports increased by 33.23 per cent to $1.329 billion in October 2005 as against $997.771 million in the same month last year. However, the exports recorded a slight decrease of 11.34 per cent during the month under review as compared to $1.499 billion in September 2005.
This showed that maximum exports were made in September, which was the deadline month for exporters of five zero-rated sectors — textile, leather, carpet, surgical and sports goods — to dispose of their stock within the deadline for claiming refunds.
The import bill increased by 54 per cent to $8.881 billion during four months of this fiscal year as compared to $5.766 billion during the same months last year. On monthly basis, the import bill stood at $2.327 billion in October 2005, as against $1.456 billion in the same month last year, indicating an increase of 59.81 per cent.
