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Exports Decrease by 54.19 percent YoY

May 05, 2020 (MLN): Pakistan's trade deficit for 10 months (July-April) FY20 was USD 19.50 billion compared to a deficit of USD 26.23 billion from the corresponding period from FY19.

According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit for the month of April 2020 was recorded at USD 2.131 billion compared to a deficit of USD1.502 billion from March 2020 showing the deficit worsened by 41.88 percent. This was largely due to decrease in exports in the month of April as result of the spread of Coronavirus and shut down in major economies.

Compared to April 2019 deficit of USD 2.625 billion, the trade numbers improved by 18.82 percent

Exports decreased by 47.24 percent to USD 0.957 billion compared to USD 1.814 billion in March 2020.

Similarly compared to April 2019 exports decreased by 54.19 percent

Imports in April 2020 decreased by 6.88 percent, clocking in at USD 3.088 billion compared to USD 3.316 billion in March 2020 and decreased by 34.49 percent when compared to April 2019.

Overall the 10 month exports stood at USD 18.408 billion compared to USD 19.16 from the corresponding period of last year, showing an increase of -3.92 percent. Similarly Imports during the period decreased by 16.5 percent to USD 37.905 billion compared to USD 45.393 from the same period of FY19.

 

Copyright Mettis Link News

Posted on: 2020-05-05T19:55:00+05:00

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