ISLAMABAD – Government’s economic decisions have finally begun to bearfruit as Pakistan’s trade deficit has gone down by 9.66 percent to $19.26billion in the first seven months of the current fiscal year.
According to the data released by the Pakistan Bureau of Statistics (PBS),the trade deficit of the country in the July-January period of the lastfiscal year was $21.324 billion– which has now narrowed down by almost 10percent to $19.264 billion during the same period this fiscal year.
Ever since the Pakistan Tehrik-e-Insaf (PTI) government took over, theexports of the country have shown an upward trend. During this period,Pakistan’s exports rose 2.24 percent to $13.231 billion while the importshave decreased.——————————
According to the PBS stats, the imports have declined by 5.17% to $32.49billion from $34.27 billion in the first seven months of the current fiscalyear.
Ministry of Commerce has said in a statement that its intervention tocontrol the fast-widening trade deficit has started delivering positiveresults.
The numbers released from the Ministry of Commerce suggest that in thefirst month of 2019 alone, the trade deficit plunged by $1.14 billion-imports declined by $1.07 billion – a sharp 19 percent drop – while exportsalso rose by 4 percent.