According to the latest Balance of Payments (BoP) data, the country's trade deficit has expanded to $2 billion. This shift is attributed to an 8.6% increase in imports during July, coupled with a 1.9% decline in export earnings. The rise in import costs was driven largely by increased spending on petroleum and fertilizers.
Economy
Trade deficit hits $2 billion amid export decline and rising imports
The trade deficit has widened to $2 billion as exports fell by 1.9% and imports rose by 8.6% in July.
Source: The Business Standard