Pakistan's trade deficit in the financial year 2019-20, decreased by 27 percent to $23.18 billion as compared to a $31.8bn trade deficit recorded in 2018-19, revealed the data issued by the Pakistan Bureau of Statistics (PBS).

As per the data issued, the country's exports at the end of the fiscal year ended June 30, 2020, stood at $21.387 billion against a target of $24 billion. In 2018-19, Pakistan exported goods and services worth $22.958 billion, in the previous fiscal year indicating exports decline of 6.8 percent.

According to the statistics agency, the country's exports were estimated to decrease by $4-$5 billion from the last fiscal year, due to a global economic slowdown and lockdown measures taken in view of the coronavirus pandemic.

Meanwhile, the country's imports during the last fiscal year were recorded at $44 billion, indicating a drop of 18.6pc from the imports recorded in 2018-19. In 2018-19 Pakistan imported goods worth $54.7 billion.