Trade deficit narrows 15.2% YoY in 11MFY24

MG News | June 03, 2024 at 04:00 PM GMT+05:00

0:00

May 31, 2024 (MLN): Pakistan's trade deficit in the eleven months of fiscal year 2023-24 has reduced by 15.2% YoY to $21.73bn as compared to a deficit of $25.64bn in 11MFY23.

Meanwhile, in May 2024, the trade deficit has edged higher by 0.1% YoY to $2.11bn as compared to a deficit of $2.11bn recorded in the same month last year, according to data released by the Pakistan Bureau of Statistics (PBS).

On a monthly basis, the trade deficit has reduced by 15.4% compared to a deficit of $2.5 billion recorded in April 2024.

Exports in May rose by 27.1% YoY to $2.79bn compared to $2.2bn in May 2023.

On a monthly basis, exports have increased by 18.8% compared to the $2.35bn figure reported in April 2024.

The country's expenditure on imports during the review month increased by 13.9% YoY, clocking in at $4.9bn compared to $4.3bn in the same month last year.

Similarly, compared to April 2024, imports rose by 1.2% MoM compared to $4.85bn.

USD Million	May 24	Apr 24	May 23	MoM %	YoY %	11MFY24	11MFY23	Cumulative %
Exports	2,792	2,351	2,197	18.8%	27.1%	28,070	25,368	10.7%
Imports	4,902	4,846	4,304	1.2%	13.9%	49,802	51,010	-2.4%
Trade Balance	-2,110	-2,495	-2,107	-15.4%	0.1%	-21,732	-25,642	-15.2%

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