Pakistan's trade deficit narrows 20.5% in Aug

MG News | September 03, 2024 at 12:51 PM GMT+05:00

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September 03, 2024 (MLN): Pakistan's trade deficit in August 2024 has decreased by 20.5% to $1.68 billion as compared to a deficit of $2.11bn a year ago as exports surged and imports fell, according to data released by the Pakistan Bureau of Statistics (PBS).

On a monthly basis, the trade deficit has narrowed 12.0% compared to a deficit of $1.9bn recorded in July.

Cumulatively in the two months of fiscal year 2023-24, the trade deficit reduced by 4.2% YoY to $3.58bn as compared to a deficit of $3.74bn in 2MFY24.

Exports in August rose by 15.9% to $2.74bn compared to $2.37bn a year ago.

On a monthly basis, exports have increased by 18.9% compared to the $2.31bn figure reported in July 2024.

The country's expenditure on imports during the review month decreased by 1.3%, clocking in at $4.42bn compared to $4.47bn in the same month last year.

Meanwhile, compared to July 2024, imports rose by 4.9% compared to $4.21bn.

USD Million	Aug 24	Aug 23	YoY %	Jul 24	MoM %	2MFY25	2MFY24	Cumulative %
Exports	2,743	2,366	15.9%	2,307	18.9%	5,050	4,430	14.0%
Imports	4,418	4,474	-1.3%	4,211	4.9%	8,628	8,165	5.7%
Trade Balance	-1,675	-2,108	-20.5%	-1,904	-12.0%	-3,578	-3,735	-4.2%

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