Pakitan's Trade Deficit at USD 19.632bn in 7 months of FY23

February 02, 2023 (MLN): Pakistan's trade deficit for 7 months (July-January) FY23 was USD 19.63 billion compared to a deficit of USD 28.86 billion from the corresponding period from FY22.

According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit for the month of January 2023 was recorded at USD 2.645 billion compared to a deficit of USD 2.841 billion from December 2022 showing an improvement of 6.9 percent.

Compared to January 2022's deficit of USD 3.422 billion, the trade numbers improved by 22.71 percent

Exports decreased by 4.41 percent to USD 2.211 billion compared to USD 2.313 billion in December 2022.

Similarly compared to January 2022 exports decreased by 15.42 percent

Imports in January 2023 decreased by 5.78 percent, clocking in at USD 4.856 billion compared to USD 5.154 billion in December 2022 while on a yearly basis, imports decreased by 19.55 percent

Overall, the 7-month exports stood at USD 16.469 billion compared to USD 17.739 from the corresponding period of last year, showing a decrease of 7.16 percent.

Similarly, Imports during the period decreased by 22.53 percent to USD 36.101 billion compared to USD 46.598 from the same period of FY22.

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