Nov 14, 2019 (MLN): Pakistan's trade deficit for 4 months (July-October) FY20 was USD 7.78* billion compared to a deficit of USD 11.70 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 October 2019 was recorded at USD 2.05 billion compared to a deficit of USD 2.016 billion from September 2019 showing the deficit worsened by 1.69 percent.
Compared to October 2018 deficit of USD 2.905 billion, the trade numbers improved by 29.43 percent
Exports increased by 14.41 percent to USD 2.024 billion compared to USD 1.769 billion in September 2019.
Similarly compared to October 2018 exports increased by 6.75 percent
Imports in October 2019 increased by 7.64 percent, clocking in at USD 4.074 billion compared to USD 3.785 billion in September 2019.
However compared to October 2018 imports decreased by 15.14 percent
Overall the 4 month exports stood at USD 7.547 billion compared to USD 7.27 from the corresponding period of last year, showing a decrease of 3.81 percent. However Imports during the period decreased by 19.21 percent to USD 15.323** billion compared to USD 18.966 from the same period of FY19.
* while the official Balance of Trade numbers stated by PBS for July – October 2019 is USD -7.776 Billion, the sum of monthly releases, including data restated for August 2019, shows the Balance of Trade at USD -8.061 Billion, which signifies a decline in trade deficit by 31.08%.
** While the official Imports number stated by PBS for July – October 2019 is USD 15.323 Billion, the sum of monthly releases shows the total imports for the period at USD 15.610 Billion, showing the imports have declined by 17.69%
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