Jul-Mar trade deficit shrinks 24.94pc to $17.03bn YoY

Pakistan’s trade deficit narrowed down by 24.94 percent in the first nine months (July-March) of the current fiscal year 2023-24 as it stood at $17.030 billion compared to $22.688 billion during the same period of last fiscal year, says the Pakistan Bureau of Statistics (PBS).

The monthly data released by the bureau noted that the country’s exports increased by eight percent ($1.878 billion) to $22.914 billion during July-March 2023-24 compared to $21.036 billion in the corresponding period of the last fiscal year.

Imports declined by 8.65 per cent to $39.944 billion during the first nine months of the current fiscal year as compared with $43.724 billion in the same period of the last fiscal year.