ISLAMABAD: 14% reduction in Pakistan’s exports have been recorded in first 7 months of fiscal year FY 2015-16 from July to January.

According to statistics department, Pakistani exports declined by 14% and remained at 12 billion dollar in first 7 months of fiscal years 2015-16 while imports reduced by 5% and remained at 25.72 billion dollar.

The trade deficit in the seven months period reached the level of 13.36 billion dollar by the reduction of 4% as compared to last year.

According to economic experts, the decline in crude oil prices in international markets and energy crisis are the main cause of reduction in exports of Pakistan.