The country’s trade deficit shrank by 30.19% to US$ 3.36 billion in January 2022 against the deficit of $4.8 billion in December 2021.
“Our import bill which was recorded at US$7.6 billion last month (December 2021) had declined to $5.9 bn in January, 2022, showing a decline of 22%,” Spokesman for the Finance Minister, Muzammil Aslam said while addressing a press conference here on Wednesday.
He said the exports also declined by 8% during the period under review but overall the trade deficit showed a big decline.
On year-on-year basis, Pakistan’s exports witnessed increase of 18.7% as it rose to $2.54 billion in January this year compared to $2.1 billion in same month of previous year. The imports during the month also increased by 23% to $5.9 billion from $4.8 billion in January 2021 while the trade deficit during the corresponding period rose by 26% .
On average, the exports during first seven months (Jul-Jan) of fiscal year 2021-22 surged to $17.7 billion against $14.255 billion in same period of previous year, showing an increase of 24%.
