ISLAMABAD: The country's exports on year-on-year (YoY) basis have witnessed a decline of 33.64 percent, from $2.096 billion to $1.4 billion during May 2019-2020, the Pakistan Bureau of Statistic (PBS) said.

According to the PBS, the country's imports during the period also witnessed a decline of 43.17 percent, from $5.017 billion to $2.85 billion.

The country's balance of trade during on annual basis witnessed an improvement of 50.02 percent, from $2.92 billion to $1.46 billion, the PBS said.

On quarterly basis, from July-May 2019-20, Pakistan's exports witnessed a decline of 6.87 percent, from $21.26 billion in July-May 2018-2019 to $19.8 billion in July-May 2019-2020.

The imports of the country on quarterly basis witnessed a decline of 18.96 percent during July-May 2019-2020 against the same period of the past financial year from $50.4 billion in July-April 2018-2019 to $40.85 during July-May 2019-2020.

The balance of trade on quarterly basis improved by 27.77 percent from $29.154 billion in July-May 2018-2019 to $21.058 billion in July-May 2019-2020.

On month-on-month (MoM) basis, the country's exports witnessed an increase of 45.35 percent from $957 million in April 2020 to $ 1.4 billion in May 2020, the PBS added.

While on MoM basis, the imports of the country went down by 11.02 percent, from $3.204 billion in April 2020 to $2.85 billion in May 2020.

The country's balance of trade on monthly basis, improved by 35.02 percent, from $2.25 billion in April 2020 to $1.46 billion in May 2020, the PBS said.