Fozia Azam

The exports of electric fans from Pakistan increased by 14.64% in the first five months of the current fiscal year i-e 2022-23 (FY-23) as compared to the same months of the last fiscal year i-e 2021-22 (FY-22). According to the data released by the Pakistan Bureau of Statistics (PBS), Pakistan exported electric fans worth USD 9.524 million in the first five months of the current fiscal year.

In the same months of the last year, the exports of electric fans from the country stood at USD 8.308 million, the data revealed. In the months from July through November 2022, Pakistan exported 507 thousand electric fans as compared to 474 thousand in the same months of the last year, showing a growth of 6.92%.

However, the exports of fans decreased by 46.90% in the month of November, 2022 as compared to the same month of the last year. In November, 2022, the exports of electric fans were recorded at USD 0.668 million against USD 1.258 million in the same month of the last year, 2021.

Similarly, the exports of electric fans decreased by 59.42% in November, 2022 as compared to USD 1.646 million in October, 2022. Merchandise trade deficit narrowed in the first five months of the current fiscal year by 30.14% over the previous year. Last year, it was recorded at USD 20,621 million, while this year it was recorded at USD 14,406 million.

The PBS data also showed that exports from July through November, 2022 were recorded at USD 11,932 million against USD 12,362 million in July through November, 2021, showing a decline of 3.48%. On the other hand, imports of the country decreased by 20.15% during the period under review from USD 32,983 million last year to USD 26,338 million in the going fiscal year.

Credit : Independent News Pakistan-WealthPk