Pakistan's Trade deficit improves by 26.45% during July-March of FY20

April 03, 2020 (MLN): Pakistan's trade deficit for 9 months (July-March) FY20 improved by 26.45% to stand at USD 17.36 billion against the deficit of USD 23.61 billion of the corresponding period last fiscal year.

According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit for the month of March 2020 was recorded at USD 1.492 billion, showing an improvement of 27.04% MoM when compared to a deficit of USD2.045 billion of February 2020.

On a yearly basis, the trade deficit numbers improved by 30.35% YoY against a deficit of USD 2.142 billion in March 2019.

The exports in March 2020 amounted to USD 1.807 billion as against USD 2.14 billion in February 2020 and USD 1.974 billion in March 2019, showing a decrease of 15.56% over February 2020 and of 8.46% over March 2019.

Imports into Pakistan during March 2020 decreased by 21.17%, clocking in at USD 3.299 billion compared to USD 4.185 billion in February 2020. Similarly, compared to March 2019, imports decreased by 19.85%.

Overall, the 9-months exports stood at USD 17.451 billion compared to USD 17.071 of the corresponding period of last year, showing a decrease of 2.23%. However, imports decreased by 14.42% to USD 34.814 billion compared to USD 40.679 for the same period of FY19.

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