ISLAMABAD: The exports of Pakistan increased by 4.29 percent during the first eight months of the current fiscal year (2020-21) as compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) reported.

The exports of the country during July-February (2020-21) were recorded at $16.304 billion against the exports of $15.633 billion during July-February (2019-20), according to the latest PBS data.

The imports during the period under review also increased by 7.49 percent by growing from $31.483 billion last year to $33.840 billion during the first eight months of current fiscal year.

Based on the figures, the country’s trade deficit increased by 10.64 percent during the first eight months as compared to the corresponding period of last year. The trade deficit during the period was recorded at $17.536 billion against the deficit of $15.850 billion last year.

Meanwhile, on year-on-year basis, the exports from the country decreased by 4.12 percent during the month of February 2021 as compared to the exports of February 2020. The exports during February 2021 were recorded at $2.049 billion against the exports of $2.137 billion in February 2020, the data revealed.