ISLAMABAD: The country’s exports increased by 10.65 percent ($2.702 billion) to $28.070 billion during the first 11 months (July-May) of the current fiscal year 2023-24 compared to $25.368 billion in the corresponding period of the last fiscal year, says the Pakistan Bureau of Statistics (PBS).
The monthly trade data released by the Bureau noted that Pakistan’s trade deficit narrowed down by 15.25per cent in the first 11 months (July-May) of 2023-24 as it stood at $21.732 billion compared to $25.642 billion during the same period of last fiscal year.
Imports declined by 2.37 per cent to $49.802 billion during the first11 months of the current fiscal year as compared with $51.010 billion in the same period of the last fiscal year.
The data further noted that the trade deficit widened by 0.14 per cent on a year-on-year basis and stood at $2.110 billion in May 2024 compared to $2.107 billion during the same month of 2023.
The imports increased by 13.89 per cent on a YoY basis and remained $4.902 billion in May 2024 compared to $4.304 billion in May 2023. The exports increased by 27.08 per cent on a YoY basis and remained $2.792 billion in May 2024 compared to $2.197 billion in May 2023.
On a MoM basis, the trade deficit narrowed down by 15.43 per cent to $2.110 billion in May 2024, as compared to $2.495 billion in April 2024. Exports recorded 18.76 per cent growth to $2.792 billion in May 2024 when compared with $2.351 billion in April 2024.
Import increased by 1.16 per cent to $ 4.902 billion in May 2024 when compared with $ 4.846 billion in April 2024.
Copyright Business Recorder, 2024
Comments
Comments are closed for this article.