ISLAMABAD: The country’s merchandize trade deficit came down by 34.29 percent during the first half of the current fiscal year against the corresponding period last year, the Pakistan Bureau of Statistics (PBS) reported on Friday.
According to the data, the Trade deficit from July-December (2023-24) was witnessed at $11.148 billion as compared to $16.965 billion in July–December (2022-23), with a difference of 34.29 per cent.
As pet the PBS data, during the period under review, the exports went up by 5.17 percent to settle at $14.981 billion against the exports of $14.244 billion during the same period last year.
Meanwhile, the imports contracted by 16.28 percent and were witnessed at $26.129 billion against $31.209 billion last year.
Data on Export, Import on Y-O-Y bases
In addition, on a year-on-year (y-o-y) basis, the exports from the country recorded an increase by 22.21 percent in December against the exports for the same month in 2022. The exports during the month were recorded at $2.812 billion compared to the exports of $2.301 billion in the earlier year.
However, the imports during December 2023 were recorded at $4.514 billion against the imports of $5.144 billion in the previous year, showing a decline of 12.25 percent.
According to the data, the exports from the country increased by 9.29 per cent on m-o-m bases, when compared to the exports of $2.573 billion during November 2023.
Meanwhile, the services’ exports during July-November (2023-24) earning foreign exchange of about $2,986 million against the exports of $3,089 million during the same period in 2022-23, showing negative growth of 3.33 percent.
The services’ imports into the country however went up by 20.67 percent while increasing from $3,406 million last year to $4,110 million during the first five months of current fiscal year.
