March 15, 2024 (MLN): Pakistan's revised trade deficit for the month of February clocked in at $1.74 billion compared to a deficit of $1.98bn from the previous month, showing an improvement of 11.93% MoM, according to the revised data released by the Pakistan Bureau of Statistics (PBS).
Meanwhile, compared to February 2023's deficit of $1.75bn, the trade deficit improved slightly by 0.17% YoY.
Exports dropped by 7.5% MoM to $2.58bn compared to $2.79bn in January 2023.
While imports in February 2024 fell 9.33% MoM to $4.33bn compared to $4.77bn in January 2024.
According to the provisional figures compiled by PBS, in Pakistani Rupees terms, exports in February, 2024 amounted to Rs721.11bn as against Rs782.65bn in January, 2024 and Rs583.66bn during February, 2023 showing a decrease of 7.86% MoM while an increase of 23.55% YoY.
Main commodities of exports during February, 2024 were Knitwear (Rs93.8bn), Rice Others (Rs89.22bn), Readymade garments (Rs85.71bn), Bed wear (Rs68.01bn), Cotton Cloth (Rs48.44bn), Towels (Rs26.39bn), Rice basmati (Rs23.03bn), Cotton Yarn (Rs21.91bn), Vegetables (Rs21.05bn) and Madeup articles (excl towels & bedwear) (Rs.17.35bn).
Imports in PKR terms into during February, 2024 amounted to Rs1.21 trillion as against Rs1.34tr in January, 2024 and Rs1.05tr during February, 2023 showing a decrease of 9.70% MoM while an increase of 15.08% YoY.
Main commodities of imports during February, 2024 were Petroleum products (Rs137.14bn), Petroleum crude (Rs104.28bn), Natural gas, liquified (Rs88.73bn), Electric machinery & apparatus (Rs75bn), Wheat unmilled (Rs63.22bn), Palm oil (Rs55.58bn), Plastic Materials (Rs51.02bn), Mobile phones (Rs44.92bn), Iron and steel (Rs38.410bn), and Iron and steel scrap (Rs31.91bn).
| Main Commodities of Exports | |
|---|---|
| Commodity | Amount (PKR Bn) |
| Knitwear | 93.80 |
| Rice Others | 89.22 |
| Readymade garments | 85.71 |
| Bed wear | 68.01 |
| Cotton Cloth | 48.44 |
| Towels | 26.39 |
| Rice basmati | 23.03 |
| Cotton Yarn | 21.91 |
| Vegetables | 21.05 |
| Madeup articles (excl towels & bedwear) | 17.35 |
|
Main Commodities of Imports |
|
|---|---|
| Commodity | Amount (PKR Bn) |
| Petroleum products | 137.14 |
| Petroleum crude | 104.28 |
| Natural gas, liquified | 88.73 |
| Electric machinery & apparatus | 75.00 |
| Wheat unmilled | 63.22 |
| Palm oil | 55.58 |
| Plastic Materials | 51.02 |
| Mobile phones | 44.92 |
| Iron and steel | 38.41 |
| Iron and steel scrap | 31.91 |
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Posted on: 2024-03-15T15:31:18+05:00
