ISLAMABAD – The biggest economic success of the PTI government in FY2019-20 has been the drastic decrease in the trade deficit.
Over the first four months of fiscal year 2019-20, the country’s tradedeficit decreased significantly by 33.5 per cent, a report by the Ministryof Commerce revealed on Saturday.
Trade deficit fell from $11.7 billion recorded from July-October of FY18-19to $7.8bn during the same period this year.
The decrease in trade deficit can largely be attributed to a fall inimports, which recorded a decline of 19.3pc. Imports during the period ofJuly-October 2019 amounted to $15.3bn as opposed to $19bn during the sameperiod last year.
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Exports, meanwhile, saw a meagre rise of 3.6pc and grew from $7.3bn to$7.5bn.
During the month of October, trade deficit fell by 32pc and was recorded at$1.97bn as opposed to last year’s $2.9bn.
