Feb 26 , 2016
News
Foreign trade deficit rises by $7bn in five years
ISLAMABAD: The foreign trade deficit has increased by $7.2390 billion over the last five years and seriously damaged the national economy, says a report.
According to a report issued by the State Bank of Pakistan (SBP), the foreign trade deficit has been on the rise since 2011. It stood at $17.373 billion in 2011, $24.479 billion in 2012, $21.630 billion in 2013 and $22.612 billion in 2014. It reached $24.612 billion in 2015, said the SBP report.
The report showed that exports earned Pakistan $24.810 billion in 2011, $23.625 billion in 2012, $24.460 billion in 2013, $25.110 billion in 2014 and $23.885 billion in 2015.
The imports cost Pakistan $40.243 billion in 2011, $44.912 billion in 2012, $44.951 billion in 2013, $45.073 billion in 2014 and $45.980 billion in 2015.
Similarly, the report said, the goods trade deficit stood at $15.443 billion in 2011, $21.287 billion in 2012, $20.491 billion in 2013, $19.963 billion in 2014 and $22.994 billion in 2015.
Courtesy www.dailytimes.com.pk