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Baner Club > Blog > Business > As Pakistan’s imports reached $4.95 billion in May, the trade deficit grows.
BusinessPakistan

As Pakistan’s imports reached $4.95 billion in May, the trade deficit grows.

Increase in imports indicates growing economic activity

Last updated: 2024/06/14 at 5:02 PM
Published June 14, 2024
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In accordance with IMF requirements, Pakistan has relaxed its import policies, which has resulted in a notable increase in domestic imports in May that almost reached $5 billion.

The State Bank recently provided statistics on imports, exports, and trade deficit. Although exports increased by 29% on a yearly basis, the trade deficit widened and reached $2.1 billion in May.

Pakistan’s trade deficit was $2.1 billion in May, up 1% from the previous month. During the same period, the nation’s exports were valued at $2.84 billion, while its imports were $4.95 billion.

Compared to last year, there was a noticeable rise of 29% in exports and 15% in imports. Pakistan’s trade imbalance for the eleventh month of the fiscal year was $21.07 billion, with $49.085 billion in imports and $28.011 billion in exports.

The rise in imports is a sign of expanding economic activity, even though the growing trade imbalance is still cause for concern.

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