Balance of trade in Nov improves by 5% MoM: PBS

MG News | December 11, 2018 at 04:02 PM GMT+05:00

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December 11, 2018 (MLN): Balance of Trade in November 2018 improved by 5.3% over previous month, whereas year-on-year improvement has been marked at a margin of 0.25%.

Trade deficit during the month has come down to $2.78 billion, down from $2.94 billion in October and $2.79 billion in November 2017.

Studying the official data on trade of Pakistan released by Pakistan Bureau of Statistics (PBS), it is evident that compared to prior month, trade in general witnessed decline that is, both imports and exports dropped. However, since imports were reduced by a comparatively greater margin, the overall deficit has shrunk.

Meanwhile, based on year-on-year comparison, it can be seen that the value of good exported from Pakistan has dropped by 6.4% whereas imports declined by 2.8% only.

The cumulative deficit in trade during the July-November period of current fiscal year, has been reported at $14.5 billion compared to $14.8 billion recorded for the corresponding period of last year.

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