Trade deficit improves by 31.13% MoM in September
By MG News | October 02, 2023 at 02:36 PM GMT+05:00
October 02, 2023 (MLN): Pakistan's trade deficit for the month of September was $1.489 billion compared to a deficit of $2.162bn from the previous month, improving by 31.13% MoM.
According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit compared to September 2022's deficit improved by 47.86% as it stood at $2.86bn.
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Exports in the month of September increased by 4.18% MoM to $2.47bn compared to $2.37bn in August 2023.
Moreover, compared to September 2022, exports increased by 1.15% YoY.
Imports in September 2023 fell by 12.68% MoM, clocking in at $3.95bn compared to $4.53bn in August 2023.
While compared to September 2022, imports decreased by 25.3% YoY as it stood at $5.3bn.
On a cumulative basis, in 3MFY24, the trade deficit improved by 42.25% YoY to $5.29bn as compared to $9.16bn in 3MFY23.
| Sep-23 | Aug-23 | Jul-23 | Jun-23 | May-23 | Apr-23 | |
|---|---|---|---|---|---|---|
| USD Million | ||||||
| Exports | 2,465 | 2366 | 2068 | 2356 | 2200 | 2137 |
| Imports | 3,954 | 4528 | 3705 | 4219 | 4328 | 2997 |
| Trade Deficit | -1489 | -2162 | -1637 | -1863 | -2128 | -860 |
| MoM % | ||||||
| Exports | 4.18% | 14.41% | -12.22% | 7.09% | 2.95% | -9.91% |
| Imports | -12.68% | 22.21% | -12.18% | -2.52% | 44.41% | 21.46% |
| Trade Deficit | 16.86% | -7.80% | -0.04% | 9.61% | -41.46% | -31.37% |
| YoY % | ||||||
| Exports | 1.15% | -4.67% | -8.25% | -19.26% | -16.22% | -26.23% |
| Imports | -25.30% | -25.42% | -25.80% | -46.46% | -36.14% | -55.01% |
| Trade Deficit | 47.86% | -39.76% | -40.23% | -62.45% | -48.74% | -77.15% |
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