EMBASSY OF PAKISTAN 7

Food inflation is estimated at 15.0 percent and non-food 6.8 percent, against

10.2 percent and 6.2 percent in the corresponding period of last year.

􀂃 Wholesale Price Index (WPI) during July-April, 2007-08 have increased

by 13.7 percent, as against 6.9 percent of last year.

􀂃 Sensitive Price Indicator (SPI) has recorded an increase of 14.1 percent

during July-April, 2007- 08, as against 11.1 percent of last year.

EXTERNAL SECTOR

􀂃 Exports were targeted at $ 19.2 billion or 12.9 percent higher than last year.

􀂃 Exports during the first ten months are up by 10.2 percent – rising from $

13847.3 million to $ 15255.5 million.

􀂃 Imports were targeted to increase by 5.9 percent in 2007-08 to $ 32.3 billion

from last year’s level of $ 30.5 billion.

􀂃 Imports are up by 28.3 percent during ten months 2007-08 – rising from $

25.0 billion to $ 32.0 billion, showing an increase of almost $ 7.0 billion.

􀂃 Major contributions to this year’s additional import bill have come from

petroleum groups (40%). Raw material (21%) and food groups (16.3).

􀂃 Trade deficit widened to $ 17 billion in the first ten months of the current

fiscal year as against $ 11 billion in the same period last year and is likely to

touch $ 20.5 billion or 12.3 percent of GDP

􀂃 Current Account Deficit further widen to $ 11.6 billion (6.8% of GDP) in

the first ten months (July-April) of the current fiscal year from 6.6 billion

(4.6% of GDP) in the same period last year.

REMITTANCES AND RESERVES

􀂃 Workers’ remittances totaled $ 5.31 billion in the first ten months of the

fiscal year against $ 4.45 billion in the same period last year, depicting an

increase of 19.5 percent

􀂃 Total Foreign Exchange Reserves stood at $ 12,344 million at the end of

April 2008 significantly lower than end June 2007 level of $ 15,646 million.

􀂃 Pakistan Rupee after remaining stable for more than 4years, depreciating

by 6.4% against US Dollar during July – April 2008.

II. SOCIAL SECTORS

EDUCATION

􀂃 Overall literacy rate (10 years & above) was 45 percent in 2001 which has

increased to 55 percent in 2006-07, indicating a 10 % increase