ISLAMABAD: The country’s exports declined by 12.68 percent on a month-on-month (MoM) basis in the first month (July) of the current fiscal year 2023-24 and remained $2.057 billion compared to $2.356 billion in June 2023, says the Pakistan Bureau of Statistics (PBS).
Pakistan’s trade deficit narrowed by 13.35 per cent on a MoM basis and remained$1.607 billion in July 2023 compared to $1.863 billion in June 2023. The country’s imports decreased by 13.15 per cent in July 2023 and remained $3.664 billion compared to $4.219 billion in June 2023.
On a year-on-year (YoY) basis, exports witnessed a decline of 8.57per cent and were recorded at $2.057 billion in July 2023 against the exports of $2.250 billion in July 2022.
The imports also decreased to $3.664 billion in July 2023 from $4.981 billion in July 2022, showing negative growth of 26.44 per cent. The trade deficit narrowed by 41.16 per cent on a YoY basis to $1.607 billion in July 2023 compared to $2.731 billion in July 2022.
Copyright Business Recorder, 2023
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