The figures released by the
Compared to the preceding year, the trade gap contracted by 2.5 per cent, but it was far higher than the official and the IMF's projection of
The higher projected trade deficit will have a direct bearing on the country's balance of payments position. The State Bank of
Against the target of
It is not the first important target that the government has missed. Earlier, it missed key targets such as economic growth rate, investments, savings, inflation and foreign direct investment.
The import bill remained at
Missing the trade deficit target by a wide margin will increase the current account deficit — the gap between external receipts and payments.
Higher-than-projected current account deficit will lead to a drawdown on foreign currency reserves held by the State Bank of
Month-on-month trade figures showed that imports grew 18 per cent and stood at
The trade deficit in the month alarmingly widened by almost half and stood at
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