Trade deficit shrinks 26.45pc in Q3

STAFF REPORTER
ISLAMABAD Country’s trade deficit witnessed significant reduction in first three quarters of current financial year and declined by 26.45% as compared to the corresponding period of last year. During the period under review country’s exports registered about 2.23% growth, whereas imports reduces by 14.42%, according the foreign trade statistics of the Pakistan Bureau of Statistics (PBS). During the period from July-March (2019-200, The exports witnessed an increase of 2.23% and reached to $17.451 billion against the exports of $17.071 billion of the same period of last year, it added. Meanwhile, country’s imports witnessed significant decrease of 14.42 % and went down from $40.679 billion in first three quarters of last financial year to $34.814 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 $17.363 against the deficit of $23.608 during last year, showing decline of 26.45 percent. On year-on-year basis, the exports from the country decreased by 8.46% during March 2020 as against the exports same month of last year. The exports during March 2020 were recorded at $1.808 billion against the exports of $1.974 billion in March 2019.