ISLAMABAD: The trade deficit of the country has declined by 1.25 percent to $6.167 billion in July-August (2018-19) as compared to the deficit of $6.245 billion during same period of last year.

The deficit reduced due to more exports and less imports during the period under review, a latest data of Pakistan Bureau of Statistics (PBS) reported.

According to details, the exports rose to $3.663 billion during first two months of current fiscal year from $3.487 billion, thus showing an increase of 5.05 percent.

Similarly, the imports also increased by 1.01 percent as it rose from $9.7 billion in July-August (2017-18) to $9.83 billion in same period of this year.

On yearly basis, the the exports witnessed a sharp increase of 8.44 percent to $2.017 billion in August 2018 against the exports of $1.86 billion during August 2017.

Similarly, the imports witnessed a nominal increase of 1.4 percent as the imports rose to $4.99 billion from $4.92 billion in August 2017.

The trade deficit on yearly basis also fell by 2.87 percent to $2.97 billion in August this year from $3.06 billion in same month of last year.