The biggest economic success of the PTI government in FY 2019-20
ISLAMABAD - The biggest economic success of the PTI government in FY 2019-20 has been the drastic decrease in the trade deficit.
Over the first four months of fiscal year 2019-20, the country's trade deficit decreased significantly by 33.5 per cent, a report by the Ministry of Commerce revealed on Saturday.
Trade deficit fell from $11.7 billion recorded from July-October of FY18-19 to $7.8bn during the same period this year.
The decrease in trade deficit can largely be attributed to a fall in imports, which recorded a decline of 19.3pc. Imports during the period of July-October 2019 amounted to $15.3bn as opposed to $19bn during the same period last year.
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.