ISLAMABAD, March 19: Pakistan’s trade deficit increased by 187.70 per cent during the eight months (July-February) of the current fiscal year over the same period of last year. Official figures released here by Federal Bureau of Statistics (FBS) on Saturday showed that in absolute terms the trade deficit reached to $3.475bn during the period under review from $1.208 billion over the corresponding period of the last year. On monthly basis, the analysis of the statistics showed that the trade deficit increased by 154.46 per cent during February 2005 and stood at $593.35 million against $233.174 million the same month last year. The trade deficit has been increased due to massive growth in import bill of petroleum products following sharp increase in the oil prices on the international market, import of metal group, machinery group, agriculture and other chemical group and food group.

Further break up showed that Pakistan exported goods worth $8.849 billion during the July-Feb period this year against $7.881 billion during the same period of last year, showing an increase of 12.29 per cent.

On monthly basis, the exports registered a growth of 32.14 per cent during the February 2005 as it stood at $1.197 billion this year against $0.906 billion during the same month last year.

The import bill of goods rose by 35.60pc to $12.325bn during the period against $9.089bn of corresponding period of last year.

On monthly basis the import bill increased by 57.17 per cent to $1.790 billion during February 2005 against $1.139 billion the same month last year.