Pakistan records whopping rise in imports

The data shows a decrease of 4.22% over January 2021 and of 0.14% over February 2020.

However, Imports into Pakistan during February 2021 amounted to Rs735, 609 million (provisional) as against Rs771, 939 million (provisional) in January 2021 and Rs642, 896 million during February 2020 showing a decrease of 4.71% over January 2021 but an increase of 14.42% over February 2020.

Exports

According to the provisional figures compiled by the Pakistan Bureau of Statistics, exports from Pakistan during February 2021 amounted to Rs329, 116 million (provisional) as against Rs343, 612 million (provisional) in January 2021 and Rs329, 588 million during February 2020 showing a decrease of 4.22% over January 2021 and of 0.14% over February 2020.

Exports in February 2021 were $2,068 million (provisional) as compared to $ 2,146 million (provisional) in January 2021 showing a decrease of 3.63% and by 3.23% as compared to $ 2,137 million in February 2020.

Exports during July – February 2020 – 2021 totalled Rs2, 651,474 million (provisional) as against Rs2, 438,365 million during the corresponding period of last year showing an increase of 8.74%.

The exports during July – February 2020 - 2021 totalled $ 16,324 million (provisional) against $ 15,633 million during the corresponding period of last year showing an increase of 4.42%. 5. Main commodities of exports during February, 2021 were Knitwear (Rs46,464 million), Readymade garments (Rs37,945 million), Bed wear (Rs32,363 million), Cotton cloth (Rs23,705 million), Cotton Yarn (Rs19,137 million), Rice others (Rs18,391 million), Towels (Rs.12,329 million), Basmati rice (Rs10,298 million), Made up articles (excl. towels & bed wear) (Rs.9,406 million) and Fruits (Rs8,433 million).

Imports

Imports into Pakistan during February 2021 amounted to Rs735, 609 million (provisional) as against Rs771, 939 million (provisional) in January 2021 and Rs642, 896 million during February 2020 showing a decrease of 4.71% over January 2021 but an increase of 14.42% over February 2020.

Imports in February 2021 were $ 4,623 million (provisional) as compared to $ 4,820 million (provisional) in January 2021 showing a decrease of 4.09% but increased by 10.92% as compared to $ 4,168 million in February 2020. Imports during July – February 2020 - 2021 totalled Rs5, 503,675 million (provisional) as against Rs4, 910,451 million during the corresponding period of last year showing an increase of 12.08%.

The imports during July – February 2020 - 2021 totalled $ 33,897 million (provisional) as against $ 31,483 million during the corresponding period of last year showing an increase of 7.67%. Main commodities of imports during February, 2021 were Petroleum products (Rs53,679 million), Natural gas, liquefied (Rs35,733 million), Palm Oil (Rs34,619 million), Petroleum crude (Rs33,659 million), Plastic Materials (Rs31,810 million), Power generating machinery (Rs.31,569 million), Mobile phone (Rs27,979 million), Raw cotton (Rs24,683 million), Iron & Steel scrap (Rs23,709 million) and Electrical machinery & apparatus (Rs23,366 million).

Balance of Trade

Based on the provisional figures for imports and exports the balance of trade in February 2021 was (-) 406,493 million in terms of Rupees and (-) 2,555 million in US dollars. The balance of trade figures cumulative from July - February, 2020-2021 were (-) 2,852,201 million in terms of Rupees and (-) 17,573 million in US dollars.