Pakistan's trade deficit rises sharply

Pakistan’s trade deficit rises sharply

Pakistan's trade deficit rose 195.7% year-on-year during the first seven months of the current fiscal year to $2.88 billion, the Pakistan's Federal Bureau of Statistics (FBS) said. The statistics for January 2005 alone indicate that the trade deficit increased 84.95% year-on-year to $465.5 million. Increases in imports of petroleum products, metal, machinery, agriculture and food contributed to the trade deficit growth. Exports during the first seven months totaled $7.65 billion, up 9.7% year-on-year, while imports amounted to $10.5, up 32.5% year-on-year.