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Exports Jump 49% To $35.43 Billion In July 2021, Trade Deficit At $10.97 Billion

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Trade Deficit in July 2021: Trade deficit stood at $10.9 billion last monthThe nation's product exports increased for the eighth straight month in July 2021 to $35.43 billion, up 49.85 percent year-on-year, revised trade deficit data launched by the federal government showed on Friday, August 13.

Imports in July also increased by 62.99 per cent to $46.40 billion, driven by oil and gold, resulting in a trade deficit of $10.97 billion, showed foreign trade information released by the Ministry of Commerce.

(Likewise Check out: Exports Jump 48% To $32.5 Billion In June, Trade Deficit At $9.37 Billion )The nation's exports increased on account of growth in the petroleum, engineering, and gems and jewellery segments, last month.

In regards to exports, the significant groups of products revealing development in July 2021 are petroleum items, other cereals, cotton/yarn, handloom products, electronic products, engineering items, amongst others.The groups of products showing de-growth consist of oilseeds, oil meals, meat, dairy items, poultry items, tea, coffee, spices, rice, cashew, among others.The cumulative value of exports for the duration April-July 2021 stood at $130.82 billion, compared to $74.96 billion during the corresponding period last year.Also, compared to April-July 2019 (pre-COVID era), the exports in April-July 2021 showed a development of 22.09 percent in dollar terms.

On the other hand, the cumulative value of imports for the period April-July 2021 stood at $172.55 billion, compared to $88.91 billion during April-July 2020, recording a growth of 94.08 percent in dollar terms.

In regards to imports, the major groups of commodities showing de-growth in July 2021 are silver, job items, and newsprint.The nation's exports in the services sector stood at $19.52 billion in July 2021, compared to $16.72 billion in the same month in 2015, marking a growth of 16.86 percent year-on-year.

While, imports in the services sector stood at $10.89 billion, compared to $9.69 billion in the same month in 2015.




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