Jul 18, 2023 (MLN): Pakistan’s trade deficit for 12 months (July-June) FY23 was $27.60 bIllion compared to a deficit of $48.35bn from the corresponding period from FY22.
According to revised data released by the Pakistan Bureau of Statistics (PBS), the trade deficit for the month of June 2023 was recorded at $1.863bn compared to a deficit of USD2.128bn from May 2023 showing an improvement of 12.45%.
Compared to June 2022’s deficit of $4.946bn, the trade numbers improved by 62.33%.
Exports increased by 7.09% to $2.356bn compared to $2.2bn in May 2023.
However, compared to June 2022 exports decreased by 19.07%.
Imports in June 2023 decreased by 2.52%, clocking in at $4.219bn compared to $4.328bn in May 2023.
Similarly compared to June 2022 imports decreased by 46.3%.
Overall the 12 month exports stood at $27.735bn compared to $31.782 from the corresponding period of last year, showing a decrease of 12.73%. Similarly, Imports during the period decreased by 30.95% to $55.33bn compared to $80.136 from the same period of FY22.
Main commodities of exports during June, 2023 were Knitwear (Rs112.35bn), Readymade garments (Rs91,58bn), Bed wear (Rs68.9bn), Cotton Cloth (Rs46.6bn), Cotton Yarn (Rs30.7bn), Towels (Rs25bn), Rice Others (Rs24.49bn), Rice basmati (Rs17.73bn), Madeup articles (excl.towels & bedwear.) (Rs16.38bn) and Surgical goods & medical instruments (Rs11.58bn).
The main commodities of imports during June 2023 were as follows: Petroleum products (Rs252.27bn), Petroleum crude (Rs121.70bn), Natural gas, liquified (Rs83.66bn), Palm oil (Rs71.42bn), Plastic Materials (Rs53.41bn), Iron & steel (Rs47.08bn), Electric machinery & apparatus (Rs33.67bn), Medicinal products (Rs27.19bn), Iron & steel scrap (Rs17.36bn), and Pulses (leguminous vegetables) (Rs16.77bn).
