The country''s exports during June 2019 witnessed a decline in comparison with the exports of May 2019 and reduced from $2.1 billion to $1.18 billion, said Pakistan Bureau of Statistics (PBS). According to PBS, over the period the country''s imports also registered a negative growth of 13.45 percent from $5.04 billion in May 2019 to $4.36 billion in June 2019.
According to PBS, over the year the Pakistani rupee exchange rate against the US dollar has witnessed a decline of 30.57 percent as the US dollar exchange rate against Pakistan rupee in June 2018 was 1$=Rs 118.90, which in June 2019 reached 1$=Rs 155.25. While on monthly basis, the exchange rate has declined by 6.55 percent from 1$=Rs 145.692250 in May 2019 to 1$=Rs 155.25 in June 2019. According to PBS, on annual basis during the fiscal year ended on June 30, 2019 Pakistan''s exports witnessed a reduction of 1 percent while imports also witnessed a decline of 9.9 percent.
Pakistan''s exports during the year 2018-19 amounted to $ 22.979 billion against $ 23.212 billion of 2017-18. The PBS said that imports during the period dropped by 9.9 percent from $60.795 billion in 2018 to $54.799 billion in 2019. The data said that Pakistan''s trade deficit over the period declined by 15 percent from $37.583 billion in fiscal year 2018 to $31.820 billion in 2019. Pakistan''s imports in June 2019 also registered a decline of 23 percent from $5.65 billion to $4.36 billion. Trade deficit also witnessed a decline of 30 percent from $3.77 billion in June 2018 to $2.64 billion in June 2018.
Comments
Comments are closed.