Page 12 - July-August-2018

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Pakistan exports surge by

13.74pc in FY 2017-18

According to Pakistan Bureau of Statistics, exports $37,670 million against the deficit of $32,488 million in
in Pakistan during the fiscal year 2017-18 surged 2016-17 which shows a growth in deficit by 15.95%.
by 13.74% compared to the previous fiscal year.
Exports were recorded at $23,228 million in July – Meanwhile, on year on year basis, Pakistan exports
June 2017-18 against exports of July – June showed a decline of 1% in June 2018 against
2016-17 of $20,422 million. exports of June 2017. The June 2018 exports were
recorded at $1887 million against the exports of
Imports in Pakistan increased by 15% going up $1906 million in 2017. The month on month basis
from $52,910 million during fiscal year 2016-17 to exports and imports from May – June 2018
$60,898 million in 2017-18. The balance of trade witnessed negative growth of 11.99% and 2.06%
showed a deficit during fiscal year 2017-18 of respectively.

China ready to levy new duties if US

escalates trade war

China is preparing to impose additional tariffs on In a recent announcement by the US Trade
imports from the United States worth $60 billion. Representative (USTR), the US government is
Based on this plan 7207 categories of US products considering to increase the proposed additional
will be targeted with four levels of tariff rate duty on $200 billion of Chinese products from 10 to
percentages of 25, 20, 10 and 5. These goods include 25 percent.
agriculture, metals, chemicals and several others.
According to a Chinese spokesperson, the date of
These tariffs will come into motion if US further implementation of additional tariff measures by the
hinders bilateral trade by renewing tariffs on any US, based on these US actions, China reserves the
more of Chinese products. right to introduce other countermeasures.

July/August 2018

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