ISLAMABAD: The country’s trade deficit witnessed significant reduction in first three quarters of current financial year and declined by 25.68% as compared to the corresponding period of last year.
During the period under review country’s exports registered about 3.92% decrease, whereas imports witnessed sharp decline of 16.50%, according the foreign trade statistics of the Pakistan Bureau of Statistics (PBS).
During the period from July-March (2019-2020), the exports witnessed decrease of 3.92% and reached to $18.408 billion against the exports of $19.160 billion of the same period of last year, it added. Meanwhile, country’s imports witnessed significant decrease of 16.50 % and went down from $45.393 billion in first three quarters of last financial year to $37.905 billion of same period of current financial year, it said.
Based on the figures, the trade deficit during the period under review was recorded at $19.497 billion against the deficit of $26.233 billion during last year, showing decline of 25.68 percent.
On year-on-year basis, the exports from the country decreased by 54.19% during April 2020 as against the exports same month of last year. The exports during April 2020 were recorded at $0.957 billion against the exports of $2.089 billion in April 2019.
The imports also witnessed sharp decline of 34.49% during the month as these declined from $4.714 billion in April 2019 to $3.088 billion in April 2020.
On month-on-month basis, the exports from the country decreased by 47.24 percent in April 2020 when compared to the exports of $1.814 billion in March 2020. Likewise, the imports into the country declined by 6.88% in April 2020 when compared to the imports of $3.316 billion in March.