Pakistan’s trade deficit contracted by over 12 percent in the outgoing fiscal year (FY24) to $24.1 billion.
According to data released by the Pakistan Bureau of Statistics (PBS), the country’s trade deficit was down 12.3 percent in FY24 compared to deficit of $27.474 billion reported in FY23.
The country’s exports during FY24 stood at $30.64 billion, up 10.5 percent over exports of $27.724 billion in FY23. Imports remained largely unchanged, coming in at $54.734 billion in FY24 compared to $55.198 billion in FY23.
In June 2024, the trade deficit stood at $2.39 billion, up 30.30 percent year-on-year and 15.1 percent on a month-on-month basis.
Exports rose 7.3 percent year-on-year in June 2024 and stood at $2.529 billion. However, on a month-on-month basis, exports fell by almost 11 percent in June 2024.
Imports in June 2024 grew 17.4 percent year-on-year to 4.919 billion. However, they were largely unchanged on a month-on-month basis.
Follow ProPakistani on Google News & scroll through your favourite content faster!
Support independent journalism
If you want to join us in our mission to share independent, global journalism to the world, we’d love to have you on our side. If you can, please support us on a monthly basis. It takes less than a minute to set up, and you can rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.
There is no trade so how can there be trade deficit ?
We dont or can’t export anything
Economic activity shrank
No or meager job market
Import restrictions , taxed exports .
The deficit is due to no actual exports followers by imports of everything