Trade deficit widens 32pc in Dec.

Pakistan's trade deficit widened nearly one-third in December 2020 despite a much-trumpeted increase in exports, which was not sufficient to match the surge in imports that jumped to over one-and-a-half-year high of $5 billion.

The gap between imports and exports increased to $2.7 billion in December over a year ago, a jump of $651 million or slightly above 32%, the Pakistan Bureau of Statistics (PBS) reported on Thursday.

The 32% increase in deficit was due to the spike in imports that overshadowed a gradual improvement in exports. In December 2020, imports surged to $5 billion compared to $4 billion in the same month...