Pakistan's trade deficit widens 19.7% YoY in July
MG News | August 01, 2024 at 09:24 PM GMT+05:00
August 01, 2024 (MLN): Pakistan's trade deficit in July 2024 has increased by 19.7% YoY to $1.95bn as compared to a deficit of $1.63bn recorded in the same month last year, according to data released by the Pakistan Bureau of Statistics (PBS).
On a monthly basis, the trade deficit has narrowed 19.0% compared to a deficit of $2.41 billion recorded in June 2024.
Exports in July rose 11.8% to $2.31bn compared to $2.06bn in July 2023.
On a monthly basis, exports have decreased by 9.8% compared to the $2.56bn figure reported in June 2024.
The country's expenditure on imports increased by 15.3% to $4.26bn compared to $3.69bn from a year ago.
Meanwhile, compared to June 2024, imports declined by 14.3% compared to $4.96bn in June.
| USD Million | Jul 24 | Jul 23 | YoY % | Jun 24 | MoM % |
|---|---|---|---|---|---|
| Exports | 2,308 | 2,064 | 11.8% | 2,558 | -9.8% |
| Imports | 4,256 | 3,691 | 15.3% | 4,964 | -14.3% |
| Trade Balance | -1,948 | -1,627 | 19.7% | -2,406 | -19.0% |
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