Trade deficit improves by 13% MoM in November

01 December 2023

Published in: Mettis Global

Pakistan’s trade deficit for the month of November was $1.89 billion compared to a deficit of $2.17bn from the previous month, reflecting an improvement of 13.16% MoM.

According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit compared to November 2022’s deficit reduced by 31.72% as it stood at $2.77bn.

Exports in November decreased by 4.39% MoM to $2.57bn compared to $2.69bn in October 2023.

Conversely, compared to November 2022, exports increased by 7.66% YoY.

The country’s expenditure on imports during the review month fell by 8.31% MoM, clocking in at $4.46bn compared to $4.86bn in the previous month.

Similarly, compared to November 2022, imports declined by 13.47% YoY as it stood at $5.15bn.

On a cumulative basis, in 5MFY24, the trade deficit improved by 33.59% YoY to $9.38bn as compared to $14.12bn in 5MFY23.