Pakistan’s trade deficit - the gap between imports and exports - increased to $7.5 billion during July-August period of fiscal year 2021-22, the national data collecting agency stated. The trade deficit trend suggests that the deficit by June next year would be far higher than the targeted $28.4 billion by the government. The two-month deficit was already equal to 26% of the target. The trade deficit started widening the moment the government decided to let the economy grow after keeping it under check for two and half years. As a result, the trade deficit widened 30% or $968 million in August over July.

Source: The Express Tribune September 05, 2021 03:33 UTC