Merchandise exports dip 14pc to $12bn

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ISLAMABAD: Merchandise exports declined by 14.37 per cent to $12.087 billion during the first seven months (July-January) of 2015-16 from $14.115bn in the same period last year, Pakistan Bureau of Statistics data showed on Wednesday.

In January 2016, exports dipped 13.90pc to $1.772bn from $2.058bn in the same month last year.

Analysts attributed the decline to the textile sector and other products like petroleum (naphtha and petroleum products), jewellery, leather products, engineering goods, furniture, cement and guar.

Imports also decreased by 5.38pc to $25.723bn from $27.187bn in July-January 2014-15.

However, during January 2016, imports inclined by 15.39pc to $3.509bn from $3.041bn in the same month last year.

As a result, the trade deficit surged by 4.31pc to $13.636bn from $13.072bn in the same period last year. In January, trade deficit rose by 76.70pc year-on-year.

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