ISLAMABAD: Pakistan’s trade deficit narrowed down by 17.09 percent in the first 10 months (July-April) of the current fiscal year 2023-24 as it stood at $19.514 billion compared to $23.535 billion during the same period of last fiscal year, says the Pakistan Bureau of Statistics (PBS).

The monthly data released by the Bureau noted that the trade deficit widened by 180.58 per cent on a year-on-year basis and stood at $2.374 billion in April 2024 compared to $846 million during the same month of 2023.

The country’s exports increased by 9.10 percent ($2.109 billion) to $25.280 billion during July-April 2023-24 compared to $23.171 billion in the corresponding period of the last fiscal year.

Imports declined by 4.09 per cent to $44.794 billion during the first 10 months of the current fiscal year as compared with $46.706 billion in the same period of the last fiscal year. The imports increased by 58.43 per cent on a YoY basis and remained $4.723 billion in April 2024 compared to $2.981 billion in April 2023. The exports increased by 10.02 per cent on a YoY basis and remained $2.349 billion in April 2024 compared to $2.135 billion in April 2023.

On a MoM basis, the trade deficit widened by 3.16 per cent to $2.374 billion in April 2024, as compared to $2.301 billion in March 2024. Exports recorded 8.67 per cent decline to $2.349 billion in April 2024 when compared with $2.572 billion in March 2024.

Import decreased by 3.08 per cent to $ 4.723 billion in April 2024 when compared with $4.873 billion in March 2024.

Copyright Business Recorder, 2024