Trade figures released by Pakistan Bureau of Statistics (PBS) show that exports have increased for both month-on-month and year-on-year basis.
Pakistan’s exports during July 2019 witnessed a growth of 15.65% compared to July 2018, increasing from $1.63 billion to $1.90 billion.
During the period the country’s imports registered a negative growth of 16.40%, dipping down to $4.01 billion in July 2019 from $4.80 billion in July 2018.
The overall trade deficit witnessed a decline of 33% as it went down to $2.12 billion in July 2019 as compared with $3.17 billion in July 2018.
Comparing the figures on a monthly basis, exports saw an increase of 10.31%, getting to $1.89 billion in July 2019 from $1.71 billion in June 2019.
Imports saw a decline of 7.91% during the period under view, going down to $4.01 billion as compared to $4.36 billion.
Fiscal Year 2019
Pakistan’s exports during FY 2018-19 amounted to $22.979 billion compared to $23.212 billion in FY2017-18. PBS says that imports during the period dropped by 9.9 percent from $60.795 billion in 2018 to $54.799 billion in 2019.
The data shows that Pakistan’s trade deficit declined by 15 percent from $37.583 billion in the fiscal year 2018 to $31.820 billion in 2019. Pakistan’s imports in June 2019 also registered a decline of 23 percent from $5.65 billion to $4.36 billion.