ISLAMABAD, May 12: Pakistan’s trade deficit widened by 93.65 per cent to $9.427 billion during the last 10 months (July-April) of the fiscal year 2005-06 as against $4.868 billion during same period last year.

According to Federal Bureau of Statistics figures here on Friday, the high import bill of oil, food items and cars pushed up the deficit during the period under review.

On monthly basis, trade deficit rose by 33.61 per cent to $807.918 million in April 2006 as compared to $604.665 million in the same month last year.

With a steady increase in imports, it was expected that the deficit will easily cross the $11-billion mark by the end of June this year. This will be the highest ever trade deficit the country witnessed during the last two decades.

The government last year projected a trade deficit at $4.16 billion for the whole financial year 2005-06, which was crossed in just half year period of the current fiscal.

The analysis suggests effects of increase in international oil prices on the petroleum import bill depicted a gradual increase since the fiscal year 2003-04. But the price impact in July-March 2005-06 was the largest in absolute value term.

The machinery group and road motor vehicles were the largest contributor to the high import bill during the period under review. Imports of the metal group also witnessed a tremendous growth during this period because of demand for iron and steel scraps.

A significant increase in imports of oilseeds and oleaginous fruits, gold (monetary and non-monetary), manufactures of metal, synthetic and regenerated fibre, professional, scientific and control and iron ores and concentrates also pushed up the import bill. Imports of consumer goods — wheat, sugar and pulses — also resulted in high import bill.

The statistics showed that the import bill increased by 40.38 per cent to $22.951 billion during the July-April period of the current fiscal year as against $16.348 billion during the same period last year.

On monthly basis, the import bill reached $2.258 billion in April 2006 as against $1.902 billion in the same month last year.

The export registered a growth of 17.80 per cent to $13.523 billion during the July-April period of the current fiscal year as against $11.480 billion in the same period last year.

The export of goods stood at $1.450 billion in April 2006 as against $1.297 billion in the same month last year, indicating an increase of 11.79 per cent.