The country’s trade deficit narrowed by 47.86 percent on a year-on-year basis and stood at $1.489 billion in September 2023 compared to $2.856 billion during the same month of last fiscal year, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday.
On a month-on-month basis trade deficit narrowed by 31.13 percent in September 2023 compared to $2.162 billion in August 2023.
The trade deficit narrowed by 42.25 percent in the first quarter (July-Sep) of the current fiscal year 2023-24 (FY24) and stood at $5.289 billion compared to $9.159 billion during the same period of FY23.
Courtesy: Ismail Iqbal Securities
Exports decreased by 3.78 percent to $6.899 billion during July-September FY24 compared to $7.170 billion in the corresponding period of the last fiscal year.
The imports declined by 25.36 percent to $12.188 billion during the first quarter of the current fiscal year as compared to $16.329 billion in the same period of the last fiscal year.
The exports increased by 4.18 percent to $2.465 billion in September 2023 compared to $2.366 billion in August 2023. Import declined by 12.68 percent to $3.954 billion in September 2023 compared to $4.528 billion in August 2023.
Imports declined by 25.30 percent on a YoY basis and stood at $3.954 billion in September 2023 compared to $5.293 billion in September 2022. Exports increased by 1.15 percent on a YoY basis and stood at $2.465 billion in September 2023 compared to $2.437 billion in September 2022.
Source: Pro Pakistani