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.