ISLAMABAD: The stock of exports from the country surged by 13.74 percent during the fiscal year 2017-18 as matched to the previous fiscal year (2016-17). The exports from the country during July-June (2017-18) were recorded at $23.228 billion against the exports of $20.422 billion in July-June (2016-17), viewing growth of 13.74 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).
Imports into the country throughout the period also improved by 15.10 percent by going up from $52.910 billion in Fiscal Year 2016-17 to $60.898 billion during Fiscal Year 2017-18. Based on the statistics, the external trade shortage during the outgoing FY 2017-18 increased by 15.95 compared to last year. The trade deficit during FY 2017-18 was recorded at $ 37.670 billion against the deficit of $32.488 billion in FY 2016-17.
Meanwhile, on year on year basis, the exports from the country dropped by one percent in June 2018 against exports of June 2017. The exports during June 2018 were recorded at $1.887 billion against the exports of $1.906 billion in June 2017. The imports into the country during the month under review witnessed growth of 26.20 percent by growing from $4.512 billion in June 2017 to $5.694 billion in June 2018.
On month-on-month basis, the exports from the country witnessed negative growth of 11.99 percent during June 2018 when compared to the exports of $2.144 billion in May 2018. The imports into the country also declined by 2.06 percent compared to the imports of $5.814 billion during May 2017, the PBS data revealed.