Pakistan's trade deficit contracted by 25% to $17 billion in the July-March period of FY24.
The decline is due to a notable decrease in imports and a rise in exports, as per data from the Pakistan Bureau of Statistics.
Beyond the headline the news is that in March this year the deficit has increased.
This improvement was significant compared to the same period in the previous year, where the deficit stood at $22.69 billion.
Exports increased by 8.93% to $22.914 billion, while imports declined by 8.65% to $39.944 billion during this period.
However, in March 2024, the trade deficit surged by 56.3% to $2.171 billion, driven by a considerable increase in imports compared to exports.
Monthly, exports in March 2024 grew by 8%, reaching $2.5 billion, while imports soared by 26% to $4.72 billion, causing the trade deficit to expand. Comparing to the preceding month, exports decreased by 1.08%, while imports saw a marginal increase of 9.25%.
