Pakistan’s exports witness a slump of 2.2% YoY in October – Alfalah Securities Limited

Karachi: According to Trade Development Authority of Pakistan (TDAP), Pakistan’s total exports for the month of October 2011 stood at USD 1.896 billion, witnessing a decline of 2.2% YoY against the exports of USD 1.938 billion during October 2010.

According to Alfalah Securities Limited, whereas, the total imports of the country stood at USD 3.607 billion in October 2011 against USD 3.196 billion in October 2010, registering an increase of 12.9% YoY. Overall, the trade deficit figures of the country shows an unpleasant picture of the economy as it has also increased to USD 1.711 billion in October 2011 against an imbalance of USD 1.258 billion in October 2010.

However, the cumulative figures of exports portrays a different picture of the economy as the exports in the 4MFY12 have stood at USD 7.899bn against USD 6.996bn in 4MFY11, showing a significant growth of 12.9%. Moreover, the imports in the 4MFY12 stood at USD 14.313bn as compared to USD 12.225bn in 4MFY11, registering a rise of 17%. Trade deficit in the 4MFY12 have remained at USD 6.414 billion as compared to a deficit of USD 5.23 billion in 4MFY11, depicting a substantial increase of 22.6%.

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