ISLAMABAD: Pakistan’s trade deficit widened by 34.78 per cent in the first five months of the current fiscal year from a year ago.

In absolute terms, the trade deficit reached to $10.45 billion in July-November 2014 from $7.75 billion over the corresponding period of last year, suggested data of Pakistan Bureau of Statistics released here on Wednesday.

However, on monthly basis the trade deficit decelerated in November by 10.30 per cent over the corresponding month of last year.

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Since July 2014, imports has rebounded and witnessed a consistent growth.

In July-Nov 2014, imports reached $20.37 billion against $18.11 billion over the corresponding period of last year, reflecting an increase of 12.50 per cent.

But a negative growth of 0.58 per cent was witnessed in the month of November 2014 over the corresponding month of last year.

Last year, imports witnessed a marginal growth of 0.36 per cent to $45.11 billion in July-June 2014 from $44.95 billion over the corresponding months of last year.

Contrary to this, exports witnessed a negative growth of 4.19 per cent, as its value fell to $9.92 billion in July-Nov period this year as against $10.35 billion over the corresponding months of last year.

But exports witnessed a growth of 9.47 per cent in November 2014 from a year ago sending a hope of revival in exports proceeds in the next few months.

In rupee terms, the exports witnessed a growth of 3.59 per cent during the month under review showing the appreciation did not have much impact on exports.