Home / Brokerage / Trade Deficit reaches USD 5.114bn mark in 1QFY12, up by 28.78% YoY

Trade Deficit reaches USD 5.114bn mark in 1QFY12, up by 28.78% YoY

Karachi: According to the Federal Bureau of Statistics, Pakistan’s trade deficit has surged to USD 5.114bn in 1QFY12 against USD 3.971bn witnessed in 1QFY11, up by 28.78% on YoY.

According to Alfalah Securities Limited, the import numbers of the country are once again a major concern for the economy as the total imports have reached to USD 11.117 billion against the nominal exports of USD 6.003bn in 1QFY12. The widening trade deficit would severely hit the external front of the country as the foreign exchange reserves would experience a sharp decline keeping in view the abolition of the IMF program. Furthermore, a decline in foreign exchange reserves would increase inflationary pressures on the currency and which may lead the country to another IMF program.

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