Trade deficit down by 16.58 percent in July

Pakistan''s trade deficit narrowed down by 16.58 percent in July 2014 as compared to July 2013, reveals provisional trade figures released by Pakistan Bureau of Statistics (PBS) on Friday. The PBS data showed that trade deficit declined to $1,434 million in July 2014 as compared to $1,719 million last year after 7.88 percent decline in exports and 11.8 percent decrease in imports.
Exports decreased to $1,930 million in July 2014 against $2,095 million in the same period a year ago, whereas imports decreased to $3,364 million in July 2014 from $3,814 million in July 2013. Analysis of the monthly figures showed that trade deficit decreased by 37.95 percent in July 2014 over June 2014. Exports decreased to $1,930 million in July 2014 from $2,027 million in June 2014, showing decline of 4.79 percent while imports decreased to $3,364 million in July 2014 from $4,338 million in June 2014, reflecting 22.45 percent decrease. The dollar exchange rate stood at July 2014 (1$=Rs 98.654342), June 2014 (1$=Rs 98.467899) and July 2013 (1$=Rs 100.475364).