Pakistan export volumes of over $30 billion has been recorded for the first time in its history in a single financial year. Although, as per import record wiping out the trade imbalance means the country will suffer. Data was recently shared by PBS ( Pakistan Bureau Statistics) showing the ending in financial year June 30, Exported commodities worth $ 31.76 billion or around Rs 5.66 trillions.
Exports from $25.3 billion or Rs8.98 trillion was up by 25.51% in the fiscal year 2020-21. Whereas, the imports of $80 billion or around Rs 14.25 trillion was recorded in the same period of time. Exports increased by 41.93% worth $25.3 billion or Rs8.98 trillion in the fiscal year 2020-21. The overall deficit for the country closed down to $48.26 billion or Rs8.6 trillion.
As compare to the last fiscal year the trade deficit increased by 55.29% or by $17.18 billion. As per the reports exports worth $2.89 billion or Rs591 billion were recorded in the previous month of fiscal year. As per comparison, exports of $2.63billion or Rs513 billion were recorded in May, a rise of $9.94%. Country is unable to reconcile itself against persistent issue, excessive imports as compared to export. $6.78billion of goods imported in May while in June it increases by 13.94% which results in worth $7.72 import from Islamabad.
