Trade deficit contracts 26.52% in 8 months
ISLAMABAD: Country’s trade deficit during the first 8 months of the current fiscal year was reduced by 26.52% compared to the corresponding period of the last year.
During the period from July-February, 2019-20, exports from the country had registered 3.65% growth as it reached to $15.648 billion as compared to the exports of $15.097 billion of same period of last year, according the trade figures released by the Pakistan Bureau of Statistics.
Meanwhile, the data revealed that imports into the country had also registered significant decrease of 14.06% in the last eight months as it came down from $36.563 billion of last year to $31.421 billion during the period under review.
Compared to the corresponding month of last year, trade deficit narrowed by 14.61% in February, 2020 as against the same month of last year. The exports witnessed 13.82% growth whereas imports reduced by 1.71% in the month under review.
In February, 2020 exports from the country were recorded at $2.141 billion as compared to the exports of $1.881 billion, whereas imports were recorded at $4.037 billion as against the imports of $4.144 billion of the same month of last year.
However month on month basis, trade deficit reduced by 10.43% in February 2020 as compared to the month of January 2020.
In February, exports from the country were recorded at $2.141 billion as compared $1.978 billion of January 2020, whereas imports into the country were recorded at $4.073 billion as against $4.135 billion of last month. – APP