AGL38.05▲ 0.23 (0.01%)AIRLINK131.26▼ -1.97 (-0.01%)BOP5.59▼ -0.05 (-0.01%)CNERGY3.79▲ 0.02 (0.01%)DCL8.72▼ -0.14 (-0.02%)DFML40.82▼ -0.12 (0.00%)DGKC87.9▼ -1.79 (-0.02%)FCCL34.75▼ -0.31 (-0.01%)FFBL65.9▼ -0.64 (-0.01%)FFL10.36▲ 0.23 (0.02%)HUBC108.7▲ 2.14 (0.02%)HUMNL14.1▲ 0.77 (0.06%)KEL4.8▼ -0.05 (-0.01%)KOSM6.86▲ 0.06 (0.01%)MLCF41.4▼ -0.13 (0.00%)NBP59.59▲ 0.94 (0.02%)OGDC180.6▼ -0.04 (0.00%)PAEL25.4▼ -0.22 (-0.01%)PIBTL5.89▲ 0.09 (0.02%)PPL145.11▼ -2.66 (-0.02%)PRL23.26▲ 0.1 (0.00%)PTC15.24▲ 0.04 (0.00%)SEARL67.75▼ -0.94 (-0.01%)TELE7.22▼ -0.01 (0.00%)TOMCL35.75▼ -0.19 (-0.01%)TPLP7.45▲ 0.09 (0.01%)TREET14.09▼ -0.06 (0.00%)TRG50.5▼ -0.25 (0.00%)UNITY26.38▼ -0.07 (0.00%)WTL1.21▲ 0 (0.00%)

Trade deficit of Pakistan plunges by 21.9% MoM in October

current account deficit of Pakistan FY23
Share
Tweet
WhatsApp
Share on Linkedin
[tta_listen_btn]

Islamabad: The trade deficit of Pakistan plunged by 21.92% on a month-on-month (MoM) basis during October of the fiscal year 2023, the Pakistan Bureau of Statistics reported.

According to the provisional report by PBS on trade statistics, during October – the fourth month of FY23 – the trade deficit fell to $2.26 billion from $2.9 billion recorded a month earlier.

During October, exports were recorded at $2.37 billion. However, imports amounted to $4.63 billion.

Similarly, on a year-on-year (YoY) basis, the trade deficit plunged by 42% as the imbalance between exports and imports was $3.9 billion during October last year.

Trade deficit of Pakistan October

Cumulatively, the trade deficit shrank by 26.6% to stand at $11.46 billion in the first four months of FY23 compared to the same period last year when it had stood at $15.62 billion.

Pakistan’s Current Account Deficit shrinks 37% YoY in 1Q of FY23

It is pertinent to mention that the trade deficit of Pakistan recorded a whopping increase of 55.7% during the fiscal year 2022, taking the total imbalance between imports and exports to $48.38 billion. Fuelled by the soaring trade imbalance and rising current account deficit, the forex exchange reserves have fallen to the $7.43 billion level as of October 21.

Related Posts