January 02, 2024 (MLN): Pakistan's trade deficit for the first half of FY24 improved significantly by 34.29% YoY to $11.15 billion as compared to $16.97bn in 1HFY23, according to data released by the Pakistan Bureau of Statistics (PBS).
During 1HFY24, exports rose by 5.17% YoY to Rs14.98bn, while imports fell by 16.28% YoY to stand at Rs26.13bn.
While in the month of December alone, the trade deficit stood at $1.7bn compared to a deficit of $1.97bn from the previous month, reflecting an improvement of 13.43% MoM.
The trade deficit compared to December 2022's deficit reduced by 40.13% as it stood at $2.84bn.
Exports in December increased by 9.29% MoM to $2.81bn compared to $2.57bn in November 2023.
Similarly, compared to December 2022, exports increased by 22.2% YoY.
The country's expenditure on imports during the review month inched down by 0.55% MoM, clocking in at $4.51bn compared to $4.54bn in the previous month.
Similarly, compared to December 2022, imports declined by 12.25% YoY as it stood at $5.14bn.
