ISLAMABAD, Feb 15: Pakistan’s export of merchandise recorded a growth of 21.29 per cent to $9.302 billion during the seven months (July-Jan) period of the current fiscal compared to $7.669 billion the same period last year.

Data released by Federal Bureau of Statistics (FBS) here on Wednesday, however, showed that the export during the month of January 2006 grew at a slow rate of 7.11 per cent at $1.229 billion as against the previous month of Dec 2005 when export recorded an increase of 30.1 per cent to $1.470bn.

The fall in export growth was attributed to declining trend witnessed in the export of readymade garments, surgical and sports goods during the month under review.

On the other hand, the import bill swelled to $15.799 billion during the July-Jan period of this fiscal compared to $10.527 billion the same period of the last year, indicating a massive increase of 50.07 per cent.

However, during January 2006 the import bill rose by 33.24 per cent to $2.145 billion as against the previous month of Dec 2005 when it rose by 47.9 per cent to $2.475 billion. This showed that the import bill was steadily on decline as compared to the previous months.

The trade deficit stood at $6.496 billion during the July-Jan period of the current fiscal year as against $2.858 billion over the same period of the last year.

On monthly basis, the trade deficit increased by 98.15 per cent to $915.613 million during January 2006 as against $462.07 million the same month last year.

The trade deficit increased during the current fiscal year due to high POL prices in the international market followed by huge import of sugar, wheat and pulses for meeting the domestic requirements.