ISLAMABAD: The country's merchandize trade deficit plunged by 32.96 percent during the first month of the current fiscal year (2019-20) as the deficit of the same month of last year.

According to the data released by the Pakistan Bureau of Statistics (PBS) Wednesday, the trade deficit during July 2019 was recorded at $2.125 billion against the deficit of $3.170 million.

The exports during the month under review increased from $1.638 billion in July 2018 to $1.894 billion in July 2019, showing growth of 15.65 percent.

On the other hand, the imports into the country witnessed decrease of 16.40 percent by falling from $4.807 billion in July 2018 to $4.019 billion in July 2019, the data revealed.

On month-on-month basis, the imports into the country witnessed decrease of 7.91 percent in July 2019 when compared to the imports of $4.364 billion in June 2019.

On the other hand the exports from the country increased by 10.31 percent in July 2019 when compared to the exports of $1.717 billion in June 2019, the data revealed.