Pakistan’s trade deficit rises by 15% MoM in April

May 21, 2020 (MLN): The import of goods and services during the month of April, 2020 amounted to $3.74 billion, which is lower by around 5 percent as compared to the previous month and 26 percent as compared to the last year.

The export of goods and services during the same month totaled $1.8 billion, which is also lower by 21 percent as compared to the previous month and 30 percent as compared to the same month of last year.

Resultantly, the Balance of Payment during the month under review, as per the records maintained by the State Bank of Pakistan (SBP), showed a deficit of $1.93 billion, showing a rise of 15 percent over the previous month but a decline of 22 percent over the same month of last year.

While the export of goods totaled $1.39 billion, the import of goods amounted to $3.15 billion. On the contrary, the export of services was recorded at $415 million, whereas the import of services was recorded at $585 million.

The data further showed that the overall deficit during the first nine months of the ongoing fiscal year equaled $19.05 billion, which is 30 percent lower as compared to the same period of last year.

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