Trade deficit narrows by 33.18% in 8 months of FY23


The trade deficit witnessed a decline of 33.18 percent during the first eight months the current fiscal year as compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) reported.

The trade deficit during July-February (2022-23) was recorded at $21.300 billion against the deficit of $31.879 billion in July- February (2021-22), a decline of 33.18 percent.
The exports during the period were recorded at $18.793 billion against $20.573 billion last year, showing a decline of 8.65 percent.

On the other hand, the imports witnessed a sharp decline of 23.56 percent falling from $52.452 billion last year to $40.093 billion during the current fiscal year.

On a year-on-year basis, the exports from the country witnessed a decline of 18.67 percent and were recorded at $2.305 billion in February 2023 against the exports of $2.834 billion in February 2022.—APP