Pakistan’s trade deficit surged by nearly 20 percent in the first month of the new fiscal year (FY25) i.e. July 2024 on a year-on-year basis.
According to data released by the Pakistan Bureau of Statistics (PBS), the country posted a trade deficit of $1.948 billion in July 2024, up 19.7 percent over $1.627 billion reported in the same month of FY24.
However, on a month-on-month basis, the trade deficit was down 19 percent in July 2024 compared to the trade deficit of $2.406 billion reported in June 2024. The trade deficit in July 2024 is the lowest in five months according to JS Global Capital.
During July 2024, exports rose 11.8 on a year-on-year basis and slipped 9.8 percent month-on-month to stand at $2.308 billion.
Imports also rose by 15.3 on a year-on-year basis while going down 14.3 percent on a month-on-month basis to stand at $4.256 billion.
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