Trade deficit improves by 13% MoM in November

MG News | December 01, 2023 at 04:50 PM GMT+05:00

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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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