Trade deficit decreases by 63.32% YoY in June

MG News | July 03, 2023 at 06:54 PM GMT+05:00

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Jul 03, 2023 (MLN): Pakistan's trade deficit for FY23 (July-June) was $27.55 billion compared to a deficit of $48.35bn from the corresponding period from FY22.

According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit for the month of June 2023 was recorded at $1.814bn compared to a deficit of $2.128bn from May 2023 showing an improvement of 14.76%.

Compared to June 2022's deficit of $4.946bn, the trade numbers improved by 63.32%.

Exports increased by 7.55% to $2.366bn compared to $2.2bn in May 2023.

However compared to June 2022 exports decreased by 18.72%.

Imports in June 2023 decreased by 3.42%, clocking in at $4.18bn compared to $4.328bn in May 2023.

Similarly compared to June 2022 imports decreased by 46.8%.

Overall the 12 month exports stood at $27.744bn compared to $31.782 from the corresponding period of last year, showing a decrease of 12.71%. Similarly Imports during the period decreased by 31% to $55.291bn compared to $80.136bn from the same period of FY22.

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