Trade deficit narrows 31% in Oct

November 01, 2024 (MLN): Pakistan's trade deficit in October 2024 has decreased notably by 31.1% as exports jumped while imports fell.

The country recorded a trade shortfall of $1.5 billion during the month. that compares to a deficit of $2.17bn 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 narrowed 17.7% compared to a deficit of $1.82 billion recorded in September 2024.

Cumulatively in the four months of fiscal year 2024-25, the trade deficit reduced by 5.6% to $6.97bn as compared to a deficit of $7.39bn in 4MFY24.

Exports in October rose by 10.6% to $2.98bn compared to $2.69bn in October 2023.

On a monthly basis, exports have increased by 4.9% compared to the $2.84bn figure reported in September 2024.

The country's expenditure on imports during the review month decreased by 8.0%, clocking in at $4.47bn compared to $4.86bn in the same month last year.

Similarly, compared to September 2024, imports declined by 3.9% compared to $4.66bn.

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