Business
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
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.
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