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 ایک سال قبل on جون 4 2024، 6:21 صبح
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.
Iran confirms assassination attempt on President Pezeshkian amid Israeli airstrikes
- 6 hours ago
Sindh police give 10-day deadline to personnel to quit gutka, mawa use
- 4 hours ago
Indian drone strike kills 3 separatist leaders in Myanmar
- an hour ago
Emergency vaccination reduced deaths by nearly 60% during epidemics, study finds
- 4 hours ago
Rawalpindi to Multan bus meets accident; 5 in critical condition
- 7 hours ago
WhatsApp introduces new feature to show how many people are typing in group chats
- 4 hours ago
Kim Jong-un offers full support to Russia in Ukraine war
- 3 hours ago
High risk near rivers as Tarbela spillways open today
- 6 hours ago
Wildlife force deployed as no-bird zones enforced near Lahore airport
- 6 hours ago
Frontier Constabulary to become countrywide force under new ordinance
- 2 hours ago
PTI expels five lawmakers for defying party policy
- an hour ago
Karachi police bust betel nut smuggling hidden in cement sacks
- 2 hours ago
You May Like
Trending
