Pakistan's trade defcit declines by 14% in FY19

News Image

MG News | July 17, 2019 at 06:17 PM GMT+05:00

0:00

July 17, 2019 (MLN): With the Government taking numerous measures to address the trade imbalance, Pakistan’s trade deficit has reduced by 14% to $32.48 billion in FY19 against previous fiscal year's figure of $37.9 billion.

According to the latest figures released by State bank of Pakistan, imports of goods and services during FY19 declined by 9% to $61.98 billion compared with $67.94 billion in last fiscal year mainly due to adopting imports substitution policies by imposing duties on the imports of non-essential items.

In addition, imports of goods weakened by 7% while imports of services declined by 17% in FY19 where significant decline in the services of construction and financial services by 68% and 7% were observed respectively.

On the other hand, the government failed to increase exports as exports of goods during the aforementioned period declined by 2% to $29.5 billion, whereas in FY18 it recorded at $30 billion. While the exports of services remained stagnant.

The 12-months SBP data suggests that the reduction in trade deficit was mainly due to the reduction in imports bill as historically Pakistan has followed a policy of import substitution rather than export promotion.  

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.03 67.54
65.93
-0.20
-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

Chart of the Day


Latest News
July 18, 2025 at 07:21 PM GMT+05:00

Pakistan strengthens UK trade links


July 18, 2025 at 05:36 PM GMT+05:00

Pakistan, China set to advance agricultural innovation


July 18, 2025 at 05:10 PM GMT+05:00

PSX Closing Bell: Riding High, Ending Low



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg