Trade deficit jumps 18% to $7.1b

Pakistan's trade deficit jumped 18% to $7.1 billion during the first two months of the fiscal year, as exports grew at half the rate of imports – an amount that is more than double of the expensive $3 billion debt Pakistan raised on Thursday from international capital markets at a profit rate of 7.9% to 8.25% for five and a half to 10 years. According to the Pakistan Bureau of Statistics (PBS), the gap between imports and exports increased to $7.1 billion during July-August, up $1.1 billion or 18% from the same period last year. The $7.1 billion trade deficit was more than double the $3 billion debt raised at an actual profit rate based on current market prices.