Pakistan’s imports climbed a three year high of $5.66 billion in march, including exports of wheat, sugar oil and, fertilizers and pesticides, cars, cell phones, and machinery and equipment for factories.
The increase in imports points out that Pakistan’s economic activity is
The rise in imports indicates that Pakistan’s economic activity is raised following the third wave of Covid-19 pandemic.
Although, with the continuous increase in the imports starting from $3.3 billion and reached to $5.66 billion almost 71 percent in the month of March. It could expand Pakistan’s current account deficit, weakening the country’s ability to make international payments for imports and repay foreign debt.
Tahir Abbas the head of Arif Habib Limited said, “The latest trade figures do not indicate that the economy is heating up.”
“The good news is that exports and imports both increased in March,” he added.
The Pakistan Bureau of Statistics (PBS) announced on Saturday that exports increased by 31% to $2.36 billion in March from $1.81 billion the previous month.