Pakistan's trade deficit reduced by 26.45% from July-March of FY2019-20 as compared to the corresponding period last financial year, a Pakistan Bureau of Statistics (PBS) report said.
During the period under review, the country’s exports registered about a 2.23% growth to reach $17.451 billion against exports of $17.071bn in the same period last financial year.
Meanwhile, imports reduced by 14.42%, going down from $40.679 billion in the first three quarters of the previous financial year to $34.814 billion in the same period of the current financial year.
Based on the figures, the trade deficit during the period under review was recorded at $17.363bn against the deficit of $23.608bn last financial year, showing a decline of 26.45%.
On a year-on-year basis, exports decreased by 8.46% to $1.808bn during March this year as against exports in March last year that had hit $1.974 billion
Imports also witnessed a sharp decline of 19.85% during the month from $4.116 billion in March 2019 to $3.299 billion in March 2020.
On a month-on-month basis, exports decreased by 15.56% in March 2020 when compared to exports of $2.140 billion in February 2020.
Likewise, imports declined by 21.17% in March 2020 as compared to imports of $4.185 million in February.
PM pays tribute to COAS Gen Asim Munir for his full cooperation to curb menace of smuggling
Tim Cook's tech company may lose its charm in East Asian country
Tech giant fires 28 employees for standing against genocide
Bitcoin halving is set to take place this week
US tech giant is considering to build regional hub in Southeast Asian city-state
Donald Lu reaffirms US's commitment to bolster ties with Pakistan