Trade deficit shrinks 2pc in first quarter

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Islamabad

The country’s trade deficit witnessed reduction of 2.02 percent during the first quarter of current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year. The deficit during July-September (2020-21) was recorded at $5.804 billion as compared to the deficit of $5.689 billion, showing decline of 2.02 percent, according to the latest data released by Pakistan Bureau of Statistics (PBS) here on Monday.During the period under review, the country’s exports registered negative growth of 0.94 percent, by going down from $5.510 billion last year to $5.458 billion during the current year. On the other hand, the imports decreased by 0. 56 percent, from $11.199 billion last year to $11.262 billion during the current year. Meanwhile, on year-on-year basis, the country’s exports increased from $1.765 billion in September 2019 to $1.873 billion in September 2020, showing positive growth of 6.12 percent.