Pakistan's trade deficit narrows 12.3% YoY in FY24

News Image

MG News | July 02, 2024 at 03:31 PM GMT+05:00

0:00

July 02, 2024 (MLN): Pakistan's trade deficit reduced by 12.3% YoY to $24.09bn in fiscal year 2023-24 as compared to a deficit of $27.47bn in the previous year.

Exports in FY24 rose by 10.5% YoY to $30.65bn compared to $27.72bn in FY23, the latest data released by the Pakistan Bureau of Statistics (PBS) showed.

Meanwhile, imports inched lower by 0.8% to $54.73bn during the year.

In the month of June alone, the trade deficit increased by 30.4% YoY to $2.39bn as compared to a deficit of $1.83bn recorded in the same month last year.

On a monthly basis, the trade deficit has widened 15.1% compared to a deficit of $2.08 billion recorded in May 2024.

Exports in June rose by 7.3% YoY to $2.53bn compared to $2.36bn in June 2023.

On a monthly basis, exports have decreased by 10.9% compared to the $2.84bn figure reported in May 2024.

The country's expenditure on imports during the review month increased by 17.4% YoY, clocking in at $4.92bn compared to $4.19bn in the same month last year.

Similarly, compared to May 2024, imports rose by 0.1% MoM compared to $4.92bn.

USD Million Jun 24 Jun 23 YoY % May 24 MoM % 12MFY24 12MFY23 Cumulative %
Exports 2,529 2,356 7.3% 2,839 -10.9% 30,645 27,724 10.5%
Imports 4,919 4,189 17.4% 4,915 0.1% 54,734 55,198 -0.8%
Trade Balance -2,390 -1,833 30.4% -2,076 15.1% -24,089 -27,474 -12.3%

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 139,207.29
190.96M
0.37%
514.62
ALLSHR 86,176.93
633.30M
0.45%
382.41
KSE30 42,602.85
57.43M
0.44%
187.98
KMI30 196,319.50
101.82M
0.67%
1305.65
KMIALLSHR 56,861.96
298.63M
0.47%
267.27
BKTi 38,060.31
12.30M
0.37%
140.31
OGTi 27,803.49
5.74M
0.12%
34.24
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,295.00 119,880.00
115,675.00
-1815.00
-1.51%
BRENT CRUDE 68.39 69.86
68.31
-0.79
-1.14%
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 65.07 66.74
65.00
-0.96
-1.45%
SUGAR #11 WORLD 16.28 16.64
16.23
-0.29
-1.75%

Chart of the Day


Latest News
July 25, 2025 at 08:46 PM GMT+05:00

Govt advances reform agenda


July 25, 2025 at 07:32 PM GMT+05:00

SBP to announce Monetary Policy decision on July 30


July 25, 2025 at 05:24 PM GMT+05:00

SECP recovers Rs26m in Penalties


July 25, 2025 at 05:11 PM GMT+05:00

PSX Closing Bell: "Higher Ground"



Top 5 things to watch in this week

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