Pakistan’s trade deficit contracts 15.25pc YoY to $21.73bn in first 11 months
On month on month basis, the trade deficit narrowed by 15.43pc
Published a year ago on Jun 4th 2024, 6:21 am
By Web Desk
Islamabad: Pakistan’s trade deficit contracted 15.25% year-on-year (YoY) during the first 11 months (July- May) of the fiscal year 2023-24, the Federal Bureau of Statistics (FBS) showed on Monday.
The contraction is owing to a reduction in imports and an increase in exports. The country’s trade balance, the gap between exports and imports, has been recorded at a deficit of $21.73 billion in the July to May period of 2023-24 as compared to $25.64bn in the same period of the previous year.
Meanwhile, imports into the country during the period under review decreased by 2.37 per cent as it was registered at $49.802bn as against the imports of $51.010bn in the same period of last year.
As compared to the corresponding month of last, exports grew by 27.08 per cent in May 2024, whereas the imports into the country increased by 13.89 per cent.
During May 2024, exports from the country were recorded at $2.792bn as compared to the exports of $2.197bn, whereas the imports into the country were recorded at $4.902bn against the imports of $4.304bn of May 2023.
On month on month basis, the trade deficit narrowed by 15.43 per cent as in May 2024 as exports grew by 18.76 per cent and imports increased by 1.16 per cent.
During May 2024, exports from the country were recorded at $2.792bn as compared to the exports of 2.351bn of April, 2024, whereas the imports into the country during the period under review were recorded at $4.902bn as against the imports of $4.846 bn of April 2024.
Old pension system restored for new hires in Sindh
- 3 hours ago
No justice for my wife and me: PTI founder writes to CJP
- 4 hours ago
Meta launches its first AI smart glasses equipped with display
- 4 hours ago
Car bomb blast kills one, injures several in Balochistan’s Kech
- 2 hours ago
Gold prices remain stable, silver continues upward trend
- 3 hours ago
50 Sudanese migrants killed as boat capsizes off Lebanon coast
- 15 minutes ago
Tremors jolt Punjab as two earthquakes hit within days
- 3 hours ago
Rupee strengthens against dollar in interbank and open markets
- 3 minutes ago
Chairman PTA reinstated
- 5 hours ago
World Athletics Championships: Arshad Nadeem out of medal race
- 3 hours ago
Girls outperform boys in Rawalpindi intermediate exams
- 2 hours ago
Four kids die after consuming poisoned food in Gujranwala
- 4 hours ago
You May Like
Trending
