Pakistan has reported a significant 34% reduction in its trade deficit during the first six months of the current fiscal year, according to data released by the Pakistan Bureau of Statistics. The noteworthy decline in trade deficit is attributed to a 5% surge in exports combined with a 16% reduction in imports.
For the period from July to December 2023, the trade deficit stood at $11.14 billion, marking a substantial improvement from the $16.96 billion recorded in the same period of the previous fiscal year. In December 2023 alone, the trade deficit was $1.702 billion, showing a 13% decrease compared to June and a remarkable 40% drop compared to December 2022.—INP
