Trade deficit down by 9.93pc in July-Nov

ZAHEER ABBASI

ISLAMABAD: The country trade deficit has narrowed by 9.93 percent in July-November 2012 as compared to the corresponding period of last year, according to Pakistan Bureau of Statistics.

Provisional trade figures released by the PBS showed that the trade deficit has declined to $8.168 billion in July-November 2012 as compared to $9.069 billion after a 7.85 percent increase in exports and 0.91 percent decrease in imports.

Exports increased to $10,082 million in the first five month against $9,348 million for the same period a year ago whereas imports have decreased to $18,250 million in the current fiscal year from $18,417 billion last year. Analysis of the monthly figures also showed a decrease of 3.55 percent in trade deficit in November this year over previous month. Exports declined to $1,896 million in November from $2,016 million in October 2012, reflecting a decrease of 5.95 per cent, imports have also decreased to $3,607 million from $3,790 million, reflecting 4.83 percent decrease.

Exports also showed an increase of 23.68 per cent in November this year against the same month last year with total goods exported going up to $1,896 million against $1,533 million for the same month last year. Imports also declined to $3,607 million in November 2012 against $3,693 million for the same month a year ago.

Thus the trade deficit in the November 2012 against the same period last year declined to 20.79 per cent with deficit narrowing from $2,160 million in November 2011 to $1,711 million in November this year.