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.
