November 17, 2023 (MLN): Pakistan's revised trade deficit for the month of October clocked in at $2.174 billion compared to a deficit of $1.52bn from the previous month, worsening by 43.21% MoM, according to the revised data released by the Pakistan Bureau of Statistics (PBS).
Meanwhile, compared to October 2022's deficit of $2.2bn, the trade deficit improved by 1.05% YoY.
Exports rose by 8.64% MoM to $2.69bn compared to $2.48bn in September 2023.
Imports in October 2023 also rose by 21.78% MoM, clocking in at $4.86bn compared to $4bn in September 2023.
According to the provisional figures compiled by the PBS, in Pakistani Rupees terms, exports from Pakistan during October 2023 amounted to Rs754bn (provisional) as against Rs737.3bn in September, 2023.
The main commodities of exports during October, 2023 were Knitwear (Rs104bn), Readymade garments(Rs76.92bn), Bed wear (Rs68.3bn), Rice Others (Rs66.56bn), Cotton Cloth (Rs.47.76bn), Oil seeds, nuts and kernals (Rs33.9bn), Towels (Rs26.3bn), Cotton Yarn (Rs25.84bn), Rice basmati (Rs18.78bn) and Madeup articles (excl.towels & bedwear.) (Rs17.98bn).
Meanwhile, imports in PKR terms into Pakistan during October 2023 amounted to Rs1.36tr (provisional) as against Rs1.19tr in September, 2023.
The main commodities of imports during October, 2023 were Petroleum products (Rs181.14bn), Petroleum crude (Rs151.33bn), Natural gas, liquified (Rs78.02bn), Electric machinery & apparatus (Rs73.78bn), Plastic Materials (Rs58bn), Palm oil (Rs57.67bn), Iron & steel (Rs51.12bn), Mobile phones (Rs46.5bn), Wheat unmilled (Rs33.82bn) and Fertilizer manufactured (Rs32bn).
