ISLAMABAD: Pakistan’s trade deficit in July 2024 has increased by 19.7 percent year on year (YoY) to $1.95 billion as compared to a deficit of $1.63 billion recorded in the same month last year, according to data released by the Pakistan Bureau of Statistics (PBS).

On a monthly basis, the trade deficit has narrowed 19 percent compared to a deficit of $2.41 billion recorded in June 2024. Exports in July rose by 11.8 percent to $ 2.31 billion compared to $2.06 billion in July 2023. On a monthly basis, exports have decreased by 9.8 percent compared to the $2.56 billion figure reported in June 2024.

The country’ exports declined by 9.77 percent on month-on-month basis and stood at 2.308 billion dollar in July 2024 compared to 2.558 billion dollars in June 2024.

Pakistan’s trade deficit contracts 12% YoY to $24.1bn in FY24

The country’s imports increased by 15.3% to $4.26 billion in July 2024 compared to $3.69 billion from a year ago.

Compared to June 2024, imports declined by 14.3% compared to $4.96 billion in June.

Copyright Business Recorder, 2024