‘Trade deficit widens to $26.35bn due to surging imports’

In the last 12 months, the total exports of Pakistan were approximately USD 32.04 billion, whereas in the same period imports rose to USD 58.39 billion and as a result the trade goods deficit widened to around USD 26.35 billion, which is a cause for concern and may have negative implications, said Ateeq ur Rehman (economic & financial analyst). The textile sector remained the dominant contributor, accounting for nearly 56 percent of total export earnings of Pakistan with a value of USD 17.89 billion. The remaining USD 14.51 billion export earnings of Pakistan comprised of other items like textiles & apparel, knitwear/hosiery, readymade garments, bed linen & other home textiles, cotton yarn and fabrics, rice, fish, fruits and vegetables, meat, leather products, surgical instruments, sports goods, chemicals, pharmaceuticals & other manufactured goods, including plastics, pharmaceuticals, cement, etc, Ateeq added.