The trade deficit witnessed a decline of 41.16 percent during the first month of the current fiscal year (2023-24) as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported.<\/p>\n
The trade deficit during the month under review was recorded at $1.607 billion against the deficit of $2.731 billion in July 2022, a decline of 41.16 percent.<\/p>\n
The exports during the month were recorded at $2.057 billion against $2.250 billion last year, showing a decline of 8.57 percent.<\/p>\n
On the other hand, the imports witnessed a sharp decline of 26.44 percent by falling from $4.981 billion last year to $3.664 billion during July 2023.<\/p>\n
On a month-on-month basis, the exports during June 2023 declined by 12.68 percent when compared to the exports of $2.356 billion in June 2023.<\/p>\n
The imports into the country declined by 13.15 percent in July 2023 when compared to the imports of $4.219 billion in June 2023, according to the data.<\/p>\n
Trade deficit narrows by 41% in July
\nMeanwhile, the deficit in services trade during the last fiscal year (2022-23) declined by 87.68 percent during compared to the corresponding period of fiscal year 2021-22. The services trade deficit was recorded at $1,036.334 million against the deficit of $5,840.11 million the previous year.<\/p>\n
The services exports during the period increased by 2.78 percent by going up from $7,102.35 million in 2021-22 to $7,300.13 million in FY2022-23, according to PBS data.<\/p>\n
On the other hand, the imports declined from $12,942.46 million to $8,019.58 million in FY2023, showing negative growth of 38.04 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"
The trade deficit witnessed a decline of 41.16 percent during the first month of the current fiscal year (2023-24) as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported. The trade deficit during the month under review was recorded at $1.607 billion against the deficit of $2.731 billion in July […]<\/p>\n","protected":false},"author":2,"featured_media":341146,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-346839","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n