The country
is suffering over Rs 1.54 billion trade deficit everyday.
According to
the central bank data, the country suffered Rs 232.99 billion trade deficit in
the five months of the current fiscal year 2013-14.
Likewise, trade
deficit with India – the largest trading partner – increased by a 24.2 per cent
compared to the same period of last fiscal year, it said, adding that trade
deficit with third countries also went up by 15.4 per cent.
The country
exported Rs 37.37 billion, whereas imported Rs 270.35 billion worth merchandise
in the five months till mid-December.
Imports from
India increased due to rise in import of petroleum products, vehicles and spare
parts, thread and cold rolled sheet in coil, while rise in imports from other
countries surged due to imports of crude soybean oil, silver, readymade
garments and chemical fertilizers, the central bank added.
"Due to
high growth of imports compared to exports, the ratio of export to import
declined to 13.8 per cent in from 14.6 per cent of the same period last fiscal
year's same period," it added.
As usual petroleum products stood as the largest
import of the country with Rs 48.11 billion, against the country's total export
receipt of Rs 37.37 billion.
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