Trade deficit improves by 13% MoM in November
MG News | December 01, 2023 at 04:50 PM GMT+05:00
November 01, 2023 (MLN): Pakistan's trade deficit for the month of November was $1.89 billion compared to a deficit of $2.17bn from the previous month, reflecting an improvement of 13.16% MoM.
According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit compared to November 2022's deficit reduced by 31.72% as it stood at $2.77bn.
Exports in November decreased by 4.39% MoM to $2.57bn compared to $2.69bn in October 2023.
Conversely, compared to November 2022, exports increased by 7.66% YoY.
The country's expenditure on imports during the review month fell by 8.31% MoM, clocking in at $4.46bn compared to $4.86bn in the previous month.
Similarly, compared to November 2022, imports declined by 13.47% YoY as it stood at $5.15bn.
On a cumulative basis, in 5MFY24, the trade deficit improved by 33.59% YoY to $9.38bn as compared to $14.12bn in 5MFY23.
| Nov-23 | Oct-23 | Sep-23 | Aug-23 | Jul-23 | Jun-23 | May-23 | |
|---|---|---|---|---|---|---|---|
| USD Million | |||||||
| Exports | 2,572 | 2,690 | 2,476 | 2,366 | 2,068 | 2,356 | 2,200 |
| Imports | 4,460 | 4,864 | 3,994 | 4,528 | 3,705 | 4,219 | 4,328 |
| Trade Deficit | -1,888 | -2,174 | -1,518 | -2,162 | -1,637 | -1,863 | -2,128 |
| MoM % | |||||||
| Exports | -4.39% | 9.33% | 4.65% | 14.41% | -12.22% | 7.09% | 2.95% |
| Imports | -8.31% | 20.33% | -11.79% | 22.21% | -12.18% | -2.52% | 44.41% |
| Trade Deficit | -13.16% | 38.27% | -29.79% | 32.07% | -12.13% | -12.45% | 147.44% |
| YoY % | |||||||
| Exports | 7.66% | 13.55% | 1.23% | -4.67% | -8.25% | -19.26% | -16.22% |
| Imports | -13.47% | 4.91% | -25.30% | -25.42% | -25.80% | -46.46% | -36.14% |
| Trade Deficit | -31.72% | 4.46% | -47.67% | -39.76% | -40.23% | -62.45% | -48.74% |
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