Trade deficit shrinks 27.77pc in 11 months

173

Staff Reporter

Islamabad

The country’s trade deficit witnessed significant reduction in the first eleven months of current financial year and declined by 27.77% as compared to the corresponding period of last year.
The Country’s deficit during July-May (2019-20) stood at $21.058 billion against the deficit of $29.154 billion during July-May (2018-19), according to the latest data of Pakistan Bureau of Statistics (PBS),
During the period under review country’s exports registered about 6.87% decrease, by going down from $21.256 billion last year to $19.796 billion during the current year whereas the imports declined from $50.410 billion to $40.854 billion, showing sharp decline of 18.96%.
Meanwhile, on year-on-year basis, the exports from the country decreased by 33.64% during May 2020 as against the exports same month of last year.
The exports during May 2020 were recorded at $1.391 billion against the exports of $2.096 billion in May 2019.
The imports also witnessed sharp decline of 43.17% during the month as these declined from $5.017 billion in May 2019 to $2.851 billion in May 2020.
On month-on-month basis, the exports from the country increased by 45.35 percent in May 2020 when compared to the exports of $0.957 billion in April 2020. Likewise, the imports into the country declined by 11.02% in May 2020 when compared to the imports of $3.204 billion in April.

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