Breakup of Pakistan's trade data in May: PBS

June 14, 2024 (MLN): Pakistan's revised trade deficit in May 2024 clocked in at $2.108 billion compared to a deficit of $2.107bn in the same month last year, reflecting a rise of 0.05% YoY, according to the revised data released by the Pakistan Bureau of Statistics (PBS).

Meanwhile, compared to April 2024's deficit of $2.495bn, the trade deficit has narrowed significantly by 15.51%.

Exports rose by 29.27% YoY to $2.84bn compared to $2.2bn in May 2023.

According to the provisional figures compiled by PBS, in Pakistani Rupees terms, exports from Pakistan during May, 2024 amounted to Rs790bn as against Rs653.96bn in the previous month and Rs627.2bn during May, 2023 showing an increase of 20.83% MoM and increased by 25.99% over May, 2023.

Main commodities of exports during May, 2024 were Knitwear (Rs115bn), Readymade garments (Rs97.56bn), Bed wear (Rs.77.18bn), Rice others (Rs75.31bn), Cotton Cloth (Rs48.12bn), Towels (Rs28.77bn), Petroleum products (excl. Top Naphta) (Rs25.39bn), Rice Basmati (Rs20.81bn), Madeup articles (excl towels & bedwear) (Rs18.59bn) and Cotton yarn (Rs17.88bn).

While imports increased up by 14.96% YoY to $4.95bn compared to $4.3bn in May 2023.

Imports in PKR terms amounted to Rs1.38 trillion as against Rs1.35tr in April, 2024 and Rs1.23tr during May, 2023 showing an increase of 2.15% MoM and an increase of 12.05% YoY.

Main commodities of imports during May, 2024 were Petroleum products (Rs188.21bn), Petroleum crude (Rs139.1bn), Electric machinery & apparatus (Rs102.63bn), Natural gas, liquified (Rs90.25bn), Palm oil (Rs64.28bn), Iron & Steel (Rs57.62bn), Plastic materials (Rs50.81bn), Mobile Phone (Rs44.2bn), Medicinal Products (Rs32.72bn) and Iron and steel scrap (Rs31.54bn).

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