Pakistan's Sept trade deficit narrows to $897 mln: Reuters

ISLAMABAD, Oct 12 (Reuters) - Pakistan's trade deficit narrowed to $897 million in September compared with $2.03 billion in September last year, the Federal Bureau of Statistics said.

The deficit was $1.04 billion in August.

Exports stood at $1.52 billion in September, against $1.77 billion in the same month last year. Imports were worth $2.41 billion in September compared with $3.80 billion in the same month last year, the bureau said on its web site.

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Trade deficit falls 6.8pc to $11.62bn: The News

By Aftab Maken

ISLAMABAD: The trade deficit for the first eight months of the current fiscal year stood at $11.62 billion, registering a decrease of around 6.86 per cent compared to $12.47 billion in the same period last fiscal, the Federal Bureau of Statistics (FBS) said on Monday.

It is interesting to note that the balance of trade has for the first time registered a decline and also imports went into the negative zone, helping the policy-makers to keep current account deficit (CAD) well below 6 per cent of gross domestic product (GDP).

Decline in the balance of trade and imports clearly reveals that the economy is showing signs of slowness and it will continue to do so in the coming months, an analyst said. During July-February 2008-09, Pakistan’s exports totalled $12.16 billion and imports $23.77 billion against $11.66 billion and $24.14 billion, respectively recorded during the same period last year. Imports were 1.49 percent less than the same period last fiscal, while exports rose only by 4.25 percent, said FBS data.

For more on this article, please click on the following link: Trade deficit falls 6.8pc to $11.62bn: The News

Pakistan's Nov trade gap narrows to $1.196 bln: Forbes

KARACHI, Dec 12 (Reuters) - Pakistan's trade deficit narrowed to $1.196 billion in November from $1.62 billion in November 2007, and fell even more sharply from last month's deficit of $1.94 billion.

According to the Federal Bureau of Statistics data released on Thursday, exports stood at $1.53 billion in November, little changed from $1.54 billion in the same period of last year.

Imports fell to $2.72 billion in November from $3.16 billion a year ago, the data showed.

For more on this article, please click on the following link: Pakistan's Nov trade gap narrows to $1.196 bln: Forbes

Pakistan's Currency's Downward Spiral

Muhammad Saad Sarwar

April 26th, 2008

Pakistani rupee has been spiralling downwards against the dollar in the past few weeks touching Rs. 65 to a dollar. This at a time when most currencies in the world, including those of the developing countries are showing a rise in value to the dollar. Some of this decline can be attributed to Pakistan’s swelling trade deficit along with the price hike of oil touching an all time level of $120 to a barrel. This trend is difficult to arrest unless concrete measures are taken to stop the import of exotic food items which the general populace can live without, such as foreign juices, cheese, chocolates etc. Also, the import of items of luxury which do not directly take part in the development of the country should be somewhat limited and kept to an appropriate level per year. Pakistan also very desperately needs to diversify its reserves into a basket of currencies which should include the rising Euro and the British Pound amongst other rising currencies such as the Thai Baht, Turkish Lira and Brazilian Real. Warren Buffet the world’s most famous investor has also been reported to have invested a substantial amount of money in rising currencies such as the Brazilian Real away from the traditional stocks. It is about time Pakistan took the diversification of reserves seriously and pegged the Pakistani rupee to a more stable euro than a vulnerable dollar.