August 15, 2024 (MLN): Pakistan's revised trade deficit for July clocked in at $1.971 billion compared to a deficit of $2.423bn from the previous month, reflecting an improvement of 18.65% MoM, according to the revised data released by the Pakistan Bureau of Statistics (PBS).
Meanwhile, compared to July 2023's deficit of $1.444bn, the trade deficit has widened significantly by 20.4% YoY.
Exports dropped by 9.81% MoM to $2.307bn compared to $2.558bn in June 2024.
Likewise, imports in July 2024 also decreased 13.82% MoM to $4.278bn compared to $4.964bn in the previous month.
According to the provisional figures compiled by PBS, in Pakistani Rupees terms, exports in July 2024 amounted to Rs642.273bn (provisional) as against Rs712.281bn in June, 2024 and Rs580.119bn during July, 2023 showing a decrease of 9.83% over June, 2024 but increased by 10.71% over July, 2023.
Main commodities of exports during July, 2024 were Knitwear (Rs99.577bn), Readymade garments (Rs82.271bn), Bed wear (Rs59,661bn), Cotton Cloth (Rs39.016bn), Rice others(Rs31.518bn), Rice Basmati (Rs25.76bn), Towels (Rs19.513bn), Petroleum products (excl. top naphta) Rs.16.162bn), Cotton yarn (Rs15.52bn) and Madeup articles (excl towels & bedwear) (Rs13.379bn).
Imports in PKR terms in July 2024 amounted to Rs1.191 trillion (provisional) as against Rs1.382tr in June, 2024 and Rs1.037tr during July, 2023 showing a decrease of 13.83% over June, 2024 but increased by 14.84% over July, 2023.
Main commodities of imports during July, 2024 were Petroleum products (Rs138.922bn), Petroleum crude (Rs100.512bn), Electric machinery & apparatus (Rs95.8bn), Natural gas, liquified (Rs92.461bn), Palm oil (Rs66.792bn), Plastic materials (Rs53.555bn), Iron & Steel (Rs45.397bn), Iron and steel scrap (Rs26.674bn), Medicinal products (Rs22.721bn) and Petroleum gas liquified (Rs20.618bn) .
