Jul-November exports post 4.8 percent growth YoY

Exports during July-November 2019 witnessed a growth of 4.8 percent against the same period of 2018, Pakistan Bureau of Statistic (PBS) said.

According to PBS, during July-November 2019 the country exported various goods and services worth $9.545 billion against July-October 2018's exports of $9.109 billion, reflecting an increase of 4.9 percent in the country's exports.

The country's imports over the period witnessed a decline of 18.41 percent from $23.55 billion during July-November 2018 to $19.213 billion in July-November 2019, while the country's trade deficit over the period witnessed a decline of 33 percent from $14.44 billion in July-November 2018 to $9.67 billion in July-November 2019.

According to export and import figures released here on Thursday, the country's export in November against October 2019 reached $ 2.011 billion mark from 2.024 billion showing a reduction of 0.64 percent. Similarly the country's imports over the period recorded at $3.94 billion from $4.074 billion, which reflect a decline of 3.29 percent on month on month (MoM) basis.

According to PBS, on MoM basis the country's trade deficit reduced by 5.9 percent as it reached $1.93 billion in November against $2.05 billion in October 2019.

On year on year (YoY) basis, the country' export from November 2018 to November 2019 witnessed a growth of 9.35 percent from $1.84 billion to $2.011 billion, while imports from November 2018 to November 2019 witnessed a decline of 14 percent from $4.58 billion to $3.94 billion. Over the year, the country's balance of trade improved by 29.65 percent from $2.74 billion to $1.93 billion.

During October 2018 to October 2019, Pakistani rupee's value against the US dollar witnessed a decline of 16.4 percent from 1$=Rs 133.50 to 1$=Rs 155.4 level.