Pakistan's trade deficit widens 19.7% YoY in July

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MG News | August 01, 2024 at 09:24 PM GMT+05:00

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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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