Pakistan on right track to economic recovery: Commerce Minister

December 03, 2023 (MLN): Pakistan's trade performance has shown significant improvement in 5MFY24, and the country's journey to stability continues, Dr. Gohar Ejaz, federal minister for commerce and industries said in a post on X (formerly Twitter).

The minister expressed his confidence that Pakistan is on the right track to economic recovery.

"We will continue to work hard to create jobs, grow the economy, and improve the lives of our people." he added.

Alhamdolillah

??The journey to stability continues! ????

Our exports are up, imports are down, and the trade deficit is shrinking.

Here are the details:

?? Nov 2023 exports: USD 2,572 million (+7.66%)

?? Nov 2023 imports: USD 4,460 million (-13.47%)

?? Nov 2023 trade…

— Dr Gohar Ejaz (@Gohar_Ejaz1) December 2, 2023

To note, Pakistan's exports increased by 1.93% YoY to $12.17 billion in 5MFY24, while imports decreased by 17.32% to $21.55bn, resulting in a trade deficit of $9.38bn, which is 33.59% lower than the same period last year.

While in the month of November alone, Pakistan's exports grew by 7.66% YoY to $2.57bn, while imports declined by 13.47% YoY to $4.46bn, leading to a trade deficit of $1.89bn, which is 31.72% lower than November 2022.

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