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Pakistan's exports increase by 20.2 percent, trade deficit widens

ISLAMABAD (April 06 2003) : The country's exports have increased by 20.2 percent, to $ 7.859 billion, during the nine months (from July 2002 to March 2003) of the current fiscal year as compared to $ 6.538 billion of last year.

More importantly, the target for this period has been exceeded by 4 percent as it was fixed at $ 7.546 billion.

According to the provisional foreign trade figures released by the Commerce Ministry on Saturday, Pakistan in the first nine months has achieved 76 percent of the target of $ 10.347 billion set for fiscal year 2002-03.

Imports have increased by 22.8 percent, to $ 9.0318 billion, against $ 7.3548 billion of last year, indicating that the country spent nearly $ 1.677 billion more mainly on import on power generation and textile machinery besides oil products.

However, trade deficit widened by 36.2 percent to $ 1.172 billion as compared to $ 616.7 million in the corresponding period of previous year.

Exports in March stood at $ 939 million against $ 725.8 million of last year showing an increase of 29.4 percent, while imports showed a growth of 43.5 percent, to $ 1.272 billion as compared to $ 886.6 million.

It is indicated from the statistics that trade deficit increased by 107.2 percent from the same month of 2001-02.

Exports increased by 21 percent to $ 939 million in March as compared to $ 776.4 million in February last, while imports showed a growth of 38.5 percent to $ 1.272 million against $ 918.7 million in February.

Trade deficit rose by 134 percent as it amounted to $ 333.2 million in March against $ 142.3 million in February.

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