Breakup of Pakistan's trade data in March: PBS

April 18, 2024 (MLN): Pakistan's revised trade deficit for March clocked in at $2.301 billion compared to a deficit of $1.743bn from the previous month, reflecting a rise of 32% MoM, according to the revised data released by the Pakistan Bureau of Statistics (PBS).

Meanwhile, compared to March 2023's deficit of $1.444bn, the trade deficit has widened significantly by 59.35% YoY.

Exports inched down by 0.39% MoM to $2.572bn compared to $2.582bn in February 2024.

While imports in March 2024 increased by 13.17% MoM to $4.873bn compared to $4.306bn in February 2024.

According to the provisional figures compiled by PBS, in Pakistani Rupees terms, exports in March 2024 amounted to Rs716.71bn as against Rs721.064bn in February, 2024 and Rs663.128bn during March 2023 showing a decrease of 0.60% over February, 2024 but increased by 8.08% over March 2023.

Main commodities of exports during March, 2024 were Knitwear (Rs93,849bn), Rice Others (Rs92.099bn), Rebnadymade garments (Rs80.062bn), Bed wear (Rs59.994bn), Cotton Cloth (Rs45.425bn), Towels (Rs25.935bn), Rice basmati (Rs23.117bn), Vegetables (Rs16.567bn), Madeup articles (excl towels & bedwear) (Rs16.72bn) and Meat and meat preparations (Rs.15.285bn).

Imports in PKR terms in March 2024 amounted to Rs1.358 trillion (provisional) as against Rs1.202tr in February 2024 and Rs1.052tr during March 2023 showing an increase of 12.97% over February 2024 and increased by 29.06% over March 2023.

Main commodities of imports during March 2024 were Petroleum crude (Rs177.06bn), Petroleum products (Rs138.527bn), Electric machinery & apparatus (Rs117.15bn), Natural gas, liquified (Rs81.65bn), Palm oil (Rs76.343bn), Wheat unmilled (Rs57.19bn), Iron and steel (Rs51.66bn), Plastic Materials (Rs49.63bn), Mobile phones (Rs42.656bn) and Iron and steel scrap (Rs32.03bn).

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