AIRLINK 75.30 Increased By ▲ 1.60 (2.17%)
BOP 4.94 Increased By ▲ 0.04 (0.82%)
CNERGY 4.39 Decreased By ▼ -0.13 (-2.88%)
DFML 41.18 Decreased By ▼ -3.70 (-8.24%)
DGKC 83.31 Decreased By ▼ -2.19 (-2.56%)
FCCL 21.65 Increased By ▲ 0.25 (1.17%)
FFBL 32.00 Decreased By ▼ -0.51 (-1.57%)
FFL 9.42 Decreased By ▼ -0.17 (-1.77%)
GGL 10.08 Decreased By ▼ -0.19 (-1.85%)
HASCOL 6.82 Decreased By ▼ -0.31 (-4.35%)
HBL 114.00 Decreased By ▼ -0.70 (-0.61%)
HUBC 139.10 No Change ▼ 0.00 (0%)
HUMNL 12.00 Decreased By ▼ -0.42 (-3.38%)
KEL 4.91 Decreased By ▼ -0.12 (-2.39%)
KOSM 4.36 Decreased By ▼ -0.09 (-2.02%)
MLCF 37.51 Decreased By ▼ -0.09 (-0.24%)
OGDC 132.85 Decreased By ▼ -3.95 (-2.89%)
PAEL 24.85 Decreased By ▼ -0.54 (-2.13%)
PIBTL 6.60 Decreased By ▼ -0.09 (-1.35%)
PPL 117.80 Decreased By ▼ -3.20 (-2.64%)
PRL 26.06 Decreased By ▼ -0.53 (-1.99%)
PTC 13.72 Decreased By ▼ -0.38 (-2.7%)
SEARL 57.25 Decreased By ▼ -0.05 (-0.09%)
SNGP 66.50 Decreased By ▼ -1.50 (-2.21%)
SSGC 10.24 Decreased By ▼ -0.18 (-1.73%)
TELE 8.21 Decreased By ▼ -0.24 (-2.84%)
TPLP 10.70 Decreased By ▼ -0.28 (-2.55%)
TRG 62.40 Decreased By ▼ -0.94 (-1.48%)
UNITY 27.04 Decreased By ▼ -0.01 (-0.04%)
WTL 1.35 Decreased By ▼ -0.03 (-2.17%)
BR100 7,846 Decreased By -95 (-1.2%)
BR30 25,256 Decreased By -391.8 (-1.53%)
KSE100 74,836 Decreased By -681.2 (-0.9%)
KSE30 24,004 Decreased By -273.3 (-1.13%)

Pakistan’s trade deficit narrowed by 42.25% to $5.29 billion in 3MFY24 mainly due to a massive reduction in imports, a direct result of administratively-controlled measures.

The country’s trade balance, gap between exports and imports, was recorded at a deficit of $5.29 billion in July to September period of the year 2023-24 as compared to $9.16 billion in the same period of the previous year, according to data released on Monday by the Pakistan Bureau of Statistics (PBS).

Both exports and imports reduced in the period under review. However, imports fell more than exports, which reduced the trade deficit.

During 3MFY24, Pakistan’s exports reduced by 3.8% to $6.9 billion from $7.17 billion in the corresponding period of the previous year despite massive currency depreciation.

On the other hand, imports fell by 25.4% to $12.19 billion in the July to September period, down from $16.33 billion in the same period of FY22.

Monthly figures

According to the PBS, the country’s trade deficit shrunk by nearly 48% to $1.489 billion in September 2023 from $2.856 billion in the same period of the last year.

Exports improved marginally by 1.1% to $2.47 billion in September 2023 from $2.44 billion in September of the previous year. Similarly, imports reduced by 25.5% to $3.95 billion in September 2023 from $5.29 billion in the same month last year.

On a monthly basis, the trade deficit declined by 31.5%, as compared to $2.16 billion in August 2023.

The data showed exports increased 4.2% to $2.47 billion in September from $2.37 billion in the preceding month of August. Meanwhile, imports have reduced by 12.9% to $3.95 billion from $4.53 billion in the last month.

Comments

Comments are closed.

Tulukan Mairandi Oct 02, 2023 04:06pm
Trade is grinding to a halt!
thumb_up Recommended (0)
Shahbaz Ali Oct 02, 2023 04:23pm
Less imports, means more local production means more jobs and less external reliance. Local production is more important than trade.
thumb_up Recommended (0)
Shahid Khan Oct 02, 2023 05:32pm
Lol is it successful if we curbing imports. Real success is when exports grow.
thumb_up Recommended (0)
Shahid Khan Oct 02, 2023 05:33pm
@Shahbaz Ali, dear less import means less raw materials and this is resulting in more joblessness and lower exports. If it is this simple then all countries would do.
thumb_up Recommended (0)
M. Usman Farooq Oct 02, 2023 05:38pm
If as a nation we like to purchase domestic manufactured goods, imports will automatically reduce. Consequently, trade deficit will be running to zero and originating jobs vacancies within our beloved country.
thumb_up Recommended (0)
Usman Oct 02, 2023 07:37pm
@M. Usman Farooq, but than how will we show off to the public if we buy local.we have bought sub standard cars for a decade just because they were built abroad.
thumb_up Recommended (0)
SAd Oct 02, 2023 09:18pm
Any good news for the economy portrayed as a bad thing for the economy by BR team nowadays maybe deal sweatner attitude has taken over
thumb_up Recommended (0)
SAd Oct 02, 2023 09:25pm
SAd thing is they portrayed economy pretty badly in September whereas it performed remarkably well as exports increased as compared to previous year and periods but they started the news by comparing qtrly numbers. If this is not BR team biased towards certain parties then I don't know what bias is.
thumb_up Recommended (0)
Iqbal Shakoor Oct 02, 2023 09:33pm
Alhamdulilah going good, inshaAllah will come out of this financial turmoil, keep it up, go for both dua and dwa.
thumb_up Recommended (0)
wanker Oct 03, 2023 01:29am
@M. Usman Farooq, Most of our imports are for essential goods that we can't produce locally. For example petroleum products make up a quarter of all imports.
thumb_up Recommended (0)