The country's trade deficit narrowed down by 5.66 percent in July-May 2013-14, as compared to the corresponding period of last fiscal year, according to Pakistan Bureau of Statistics. The provisional data released by PBS shows that trade deficit declined to $17.665 billion in July-May 2013-14 as compared to $18.725 billion in July-May 2012-13 after 3.71 percent increase in exports and 0.57 percent decrease in imports.
The data shows that exports increased to $23,112 million in July-May 2013-14 against $22,286 million of the same period a year ago. Imports decreased to $40,777 million as compared to $41,011 million over the same period in the corresponding fiscal year. Analysis of the monthly figures shows that trade deficit narrowed down by 27.60 percent in May 2014 over April 2014, as it declined to $1,558 million in May 2014 as compared to $2,152 million in April 2014. Exports stood at $2,117 million in May 2014 against $1,915 million in April this year, registering an increase of 10.55 percent. However, imports stood at $3,675 million in May 2014 as compared to $4,067 million in April this year, reflecting a decrease of 9.64 percent.
However, exports registered a decrease of 1.21 percent in May 2014 against the same month of last year. The total goods exported in May this year stood at $2,117 million as compared to $2,143 million in the same month last year. Likewise, the import of goods also registered a decrease of 15.44 percent in May this year against the same month of last year. The total goods imported in May 2014 stood at $3,675 million as compared to $4,346 million in the same month last year. Thus, the trade deficit in May 2014 against May 2013 decreased by 29.28 percent with deficit decreasing from $2,203 million in May 2013 to $1,558 million in May this year. The dollar exchange rate stood at Rs 98.594 in May 2014 and Rs 97.492 in Aril 2014. It was calculated at Rs 98.311 in May last year.
Comments
Comments are closed.