Trade deficit improves by 31.13% MoM in September

MG News | October 02, 2023 at 02:36 PM GMT+05:00

0:00

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.

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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