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ISLAMABAD: Pakistan’s trade deficit widened by 29.86 percent on a month-on-month basis to $2.126 billion in August 2023 when compared to $1.637 billion in July 2023, says Pakistan Bureau of Statistics (PBS).

The monthly data released by the Bureau noted that the country’s trade deficit narrowed by 40.29 per cent during the first two months (July-August) of the current fiscal year and stood at $3.763 billion compared to $6.302 billion during the same period of last fiscal year.

Exports decreased by 6.38 per cent to $4.431 billion during July-August 2023-24 compared to $4.733 billion in the corresponding period of the last fiscal year.

The imports declined by 25.75 per cent to $8.194 billion during the first two months of the current fiscal year as compared with $11.035 billion in the same period of the last fiscal year.

The exports recorded 14.27 per cent increase to $2.363 billion in August 2023 when compared with $2.068 billion in July 2023.

Import increased by 21.16 per cent to $4.489 billion in August 2023 when compared with $3.705 billion in July 2023.

The trade deficit narrowed by 40.46 per cent on a year-on-year basis to $2.126 billion in August 2023 compared to $3.571 billion in August 2022. Imports declined by 25.85 per cent on a YoY basis and remained $ 4.489 billion in August 2023 compared to $6.054 billion in August 2022.

Exports declined by 4.83 per cent on a YoY basis and remained $2.363 billion in August 2023 compared to $2.483 billion in August 2022.

Copyright Business Recorder, 2023

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