ISLAMABAD – Pakistan’s trade deficit contracted by 34 per cent during the first five months of the current fiscal year compared to the corresponding period of last year, a report shared by Pakistan Bureau of Statistics (PBS) said.
The exciting results show plunge in trade deficit by 34.29pc to $11.15 billion in first half of Fiscal Year24, which experts linked with drop in imports, stern measures, and marginal improvement in exports.
The reports shows that the gap between exports and imports was recorded at deficit of $11.15 billion from July-December 2023. In previous year, it was recorded at $16.97 billion.
In recent times, Pakistan made several changes, and imports saw huge decrease while exports saw marginal increase, which reduced the trade deficit.
On a monthly basis, the trade deficit moved down by over 13 percent as compared to $1.96 billion in November 2023.
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