February 16, 2024 (MLN): Pakistan's revised trade deficit for the month of January clocked in at $1.979 billion compared to a deficit of $1.828bn from the previous month, increasing by 8.26% MoM, according to the revised data released by the Pakistan Bureau of Statistics (PBS).
Meanwhile, compared to January 2023's deficit of $2.84bn, the trade deficit has reduced by 24.78% YoY.
Exports dropped by 1.06% MoM to $2.792bn compared to $2.822bn in December 2023.
While imports in January 2024 rose 2.6% MoM to $4.771bn compared to $4.65bn in December 2023.
According to the provisional figures compiled by the PBS, in Pakistani Rupees terms, exports from Pakistan during January, 2024 amounted to Rs784.626bn as against Rs799.588bn in December 2023 and Rs523.831bn during January 2023 showing a decrease of 2.12% over December 2023 but increased by 49.41% over January 2023.
Main commodities of exports during January 2024 were Rice Others (Rs108.803bn), Knitwear (Rs102.331bn), Readymade garments (Rs93.462bn), Bed wear (Rs70.662bn), Cotton Cloth (Rs44.773bn), Towels (Rs26.93bn), Rice basmati (Rs25.06bn), Cotton Yarn (Rs22.789bn), Vegetables (Rs20.449bn) and Petroleum products (Rs19.362bn).
Meanwhile, imports in PKR terms into Pakistan during January 2024 amounted to Rs1.337 trillion as against Rs1.318tr in December, 2023 and Rs1.13tr during January, 2023 showing an increase of 1.5% MoM and 18.36% YoY.
Main commodities of imports during January 2024 were Natural gas, liquified (Rs124.784bn), Petroleum products(Rs119.858bn), Petroleum crude (Rs102.735bn), Electric machinery & apparatus (Rs78.626bn), Palm oil (Rs62.595bn), Plastic Materials (Rs57.418bn), Mobile phones (Rs54.642bn), Fertilizer manufactured (Rs50.102bn), Wheat unmilled (Rs49.434bn) and Iron and steel (Rs43.799bn).
