Pakistan’s trade deficit narrowed by 17.13 percent during the first two months (July-August) of current the fiscal year (FY23) and stood at $6.269 billion compared to $7.565 billion during the same period of last fiscal year, says Pakistan Bureau of Statistics (PBS).
The monthly data released by the Bureau noted that the country’s exports increased by 3.75 percent to $4.759 billion during July-August compared to $4.587 billion in the corresponding period of the last fiscal year.
The imports declined by 9.25 percent to $11.02 billion during the first two months of the current fiscal year as compared with $12.152 billion in the same period of the last fiscal year.
The trade deficit widened by 28.89 percent on a month-on-month basis to $3.53 billion in August 2022 when compared to $2.739 billion in July 2022.
The exports recorded 11.07 percent increased to $2.504 billion in August when compared with $2.254 billion in July. Imports increased by 20.84 percent to $6.034 billion in August when compared with $4.993 billion in July.
The trade deficit narrowed by 18.49 percent on a year-on-year basis to $3.530 billion in August 2022 compared to $4.330 billion in August 2021. Imports declined by 8.26 percent on a YoY basis and stood at $6.034 billion in August 2022 compared to $6.577 billion in August 2021.
Exports increased by 11.44 percent on a YoY basis and stood at $2.504 billion in August 2022 compared to $2.247 billion in August 2021.