ISLAMABAD: Pakistan’s trade deficit has widened 81.4 per cent to $ 3.058 billion in July 2021 as compared to $ 1.686 in the corresponding month of 2020.

According to provisional foreign trade figures during the first month of current fiscal year (2021-22), imports stood at $ 5.405 billion as compared to $ 3.687 billion in July 2020, showing a massive growth of 46.6 per cent or $ 1.718 billion.

However, exports have posted a growth of 17.3 per cent to $ 2.347 billion in July 2021 as compared to $ 2.001 billion in July 2020.

Trade deficit reached an all-time high of $37.7bn in FY18. However, the government’s measures led to a drop in trade deficit to $31.8bn in FY19 and $23.183bn in FY20. The trend reversed and trade deficit was recorded at $30.796bn in FY21.

According to Adviser to the Prime Minister on Commerce Razak Dawood exports had touched the highest-ever mark of over $25bn in FY21. The government sets an export target of $38.7bn for the current fiscal year, he added.