Trade deficit improves by 31.13% MoM in September

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

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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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