Trade deficit narrows 18.6% in Nov

December 02, 2024 (MLN): Pakistan's trade deficit in November 2024 has decreased notably by 18.6% as exports jumped while imports fell.

The country recorded a trade shortfall of $1.589 billion during the month. that compares to a deficit of $1.952bn 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 inched up by 0.19% compared to a deficit of $1.586 billion recorded in October 2024.

Cumulatively in the five months of fiscal year 2024-25, the trade deficit reduced by 7.39% to $8.651bn as compared to a deficit of $9.341bn in 5MFY24.

Exports in November rose by 8.98% to $2.804bn compared to $2.573bn in November 2023.

On a monthly basis, exports have dropped by 5.97% compared to the $2.982bn figure reported in October 2024.

The country's expenditure on imports during the review month decreased by 2.92%, clocking in at $4.393bn compared to $4.525bn in the same month last year.

Similarly, compared to October 2024, imports declined by 3.83% compared to $4.568bn.

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