Bloomberg News

Pakistani Trade Gap Widens 50% as Imports Exceed Shipments

October 10, 2011

(Updates with trade gap data in second paragraph.)

Oct. 10 (Bloomberg) -- Pakistan’s trade deficit widened 50 percent in September as import growth exceeded the increase in overseas shipments.

The gap widened to $1.79 billion, according to a statement posted today on the website of the Islamabad-based Federal Bureau of Statistics. Export growth in September was 15.3 percent, faster than the 13 percent increase in August, and imports rose 30.2 percent, faster than the 26.5 percent increase last month.

Pakistan is seeking to boost exports after expansion slowed because of the Taliban insurgency and record flooding. The government targets economic growth of 4.2 percent in the 12 months that started July 1 compared with a growth rate of 2.4 percent last year, according to the Finance Ministry.

South Asia’s second-biggest economy exported $1.84 billion of goods in September, compared with $1.6 billion a year earlier, according to the statement. Imports rose to $3.6 billion from $2.78 billion.

Pakistan’s trade deficit widened 29 percent to $5.1 billion in the quarter ended Sept. 30 as exports climbed 18.7 percent to $6 billion and imports gained 23 percent to $11.1 billion, according to the statistics bureau.

--Editors: Naween A. Mangi

%PKR

To contact the reporter on this story: Farhan Sharif in Karachi at fsharif2@bloomberg.net

To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net


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