Pakistan's trade deficit rises by 24.56% MoM in March

News Image

MG News | April 01, 2024 at 03:08 PM GMT+05:00

0:00

April 01, 2024 (MLN): Pakistan's trade deficit for the month of March has increased by 24.56% MoM to $2.17 billion as compared to a deficit of $1.74bn recorded in February 2024, according to data released by the Pakistan Bureau of Statistics (PBS).

On a year-on-year basis, the trade deficit has surged by 56.30% YoY compared to a deficit of $1.39bn recorded in March 2023.

Cumulatively in the nine months of fiscal year 2023-24 (9MFY24), the negative trade balance reduced significantly by 24.94% YoY to $17.03bn as compared to a deficit of $22.69bn in 9MFY23.

Exports in March inched down by 1.08% MoM to $2.56bn compared to $2.28bn in February 2024.

Likewise, on a year-on-year basis, exports have increased by 7.99% compared to the $2.37bn figure reported in March 2023.

The country's expenditure on imports during the review month increased by 9.25% MoM, clocking in at $4.73bn compared to $4.33bn in the previous month.

While, compared to March 2023, imports expanded by 25.86% YoY as it stood at $3.76bn in that respective period.

On a cumulative basis, in 9MFY24, exports were recorded at $22.91bn, while imports clocked in at $39.94bn.

Exports have increased by 8.93% YoY in the ongoing fiscal year, whereas imports have dropped 8.65% YoY, resulting in a reduced trade deficit.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,995.00 118,195.00
117,905.00
375.00
0.32%
BRENT CRUDE 73.47 73.63
71.75
0.96
1.32%
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 70.25 70.33
70.18
0.25
0.36%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

Chart of the Day


Latest News

Top 5 things to watch in this week

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