Pakistan's Trade deficit improves by 27.11 percent in FY20

Jul 03, 2020 (MLN): Pakistan's trade deficit for 12 months (July-June) FY20 was USD 23.18 billion compared to a deficit of USD 31.81 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 June 2020 was recorded at USD 2.123 billion compared to a deficit of USD1.467 billion from May 2020 showing the deficit worsened by 44.72 percent.

Compared to June 2019 deficit of USD 2.65 billion, the trade numbers improved by 19.89 percent

Exports increased by 14.04 percent to USD 1.592 billion compared to USD 1.396 billion in May 2020.

However compared to June 2019 exports decreased by 6.52 percent

Imports in June 2020 increased by 29.76 percent, clocking in at USD 3.715 billion compared to USD 2.863 billion in May 2020 but showed a decrease of 14.66 percent compared to June 2019.

Overall the 12 month exports stood at USD 21.387 billion compared to USD 22.958 from the corresponding period of last year, showing an increase of -6.84 percent. Similarly Imports during the period decreased by 18.61 percent to USD 44.57 billion compared to USD 54.763 from the same period of FY19.

Copyright Mettis Link News