Pakistan’s trade deficit narrowed by 26.59 percent to $11.469 billionduring the first four months of the current fiscal year (FY23) as comparedto $15.624 billion during the same period of last year, says the PakistanBureau of Statistics (PBS).
The exports during July-October (2022-23) were recorded at $9.549 billionagainst the exports of $9.460 billion in July-October (2021-22), showing agrowth of 0.94 percent, according to the trade data released by PBSWednesday.
The imports decreased by 16.21 percent during the period under review,going down from $25.084 billion last year to $21.018 during the currentyear.
On a year-on-year basis, the exports witnessed a decline of 3.77 percentand were recorded at $2.371 billion in October 2022 against the exports of$2.464 billion in October 2021.
The imports also decreased to $4.636 billion in October 2022 from $6.369billion in October 2021, showing negative growth of 27.21 percent. Thetrade deficit narrowed by 42 percent on a YoY basis to $2.265 billion inOctober 2022 compared to $3.905 billion in October 2021.
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On a month-on-month basis, the exports during October 2022 declined by 3.07percent when compared to the exports of $2.446 billion in September 2022.
The imports into the country also declined by 13.30 percent in October 2022when compared to the imports of $5.347 billion in September 2022, accordingto the data.
