ISLAMABAD: According to data released on Monday by the Pakistan Bureau of Statistics (PBS), the trade deficit has decreased by 40.29 percent during the first two months of the current fiscal year compared to the previous year.
The trade deficit from July to August of 2023–24 was $3.763 billion compared to the $6.302 billion deficit from July to August of 2022–23, a decrease of 40.29 percent. According to the most recent PBS data, exports during the reviewed period decreased by 6.38 percent to $4.431 billion from exports of $4.733 billion during the same period last year.
In contrast, imports decreased by 25.75 percent to $8.194 billion from $11.035 billion the previous year. In the meantime, compared to the same month last year, exports from the country fell by 4.83 percent in August on an annual basis. Compared to the $2.483 billion in exports in August 2022, the exports during the month totaled $2.363 billion.
On the other hand, the figures show that imports decreased by 25.85% in August 2023, with imports at $4.489 billion compared to exports of $6.054 billion in August 2022. As opposed to July 2023, when exports were $2.068 billion, the country’s exports in August 2023 totalled $2.363 billion, an increase of 14.27 percent on a monthly basis. In addition, imports increased by 21.16 percent, from $3.705 billion in July 2023 to $4.489 billion in August 2023, according to PBS. —APP
