The trade deficit has widened due to the massive growth in imports as against the exports. The government had successfully controlled the current account deficit in last fiscal year mainly due to the inflow of foreign remittances. Pakistan’s imports have increased by 47.9 percent to $5.434 billion in July 2021 from $3.674 billion in the corresponding period of the previous year. Therefore, the trade deficit was recorded at $3.104 billion in the month of July this year. Similarly, the imports also reduced by 14.45 percent to $5.434 billion in July 2021 as against $6.352 billion in the June 2020.

Source: The Nation August 10, 2021 02:05 UTC